Tuesday, April 06, 2010

Fcpo wrap....still -ve..just missing a breakdown


2nd attempt at 2500 in two weeks. But not breakthrough yet. Unfortunately still a 2500-2600, a 3 weeks trading range. Follow through selling pushed prices to support lvl but a lack of –ve from soyoil mkt, encouraged profit take buying. SO turn +0.2% in late Asian hours after trading mostly -0.1%

While prices off their lows, mkt remains downward bias, below short term SMAs. Also, a closing under 100SMA for the first time since Nov 2009. Waiting for the next big move.

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