After a scare over the weekend, bulls woke up Mon with a big smile after news of Europe big bailout hit the street. Regional and DJ futs reacted strongly from get go, extends gains after Europe opens at 3pm. All near 3% to 4%Of course, Malaysian knew about the news on Fri, that’s why fbm turned +ve! But today, fbm was a bit tired, strong but…lacks momentum..having pblm with 35 resistance for most to the day. Fkli was more upbeat, turning premium after 3pm, revisited 40 resistance.
Technically, fkli is back to an upward-bias zone, within the previous consolidation range of 30-50. Cautious though as fbm remains in –ve territory - below SMAs. It does not look like a big trend is in the making the next few days.
No comments:
Post a Comment