Fcpo trends lower in PM session after steady near 2400-2410 in the morning session, while externals remain the same. Selling pressure build up after breaching 2400 psychological support. lightly traded. SO +0.5% all day long.
Mkt is back to bears territory after a lack of follow through today. While do not expect a sharp drop, mkt is likely to drift lower, targeting 2350 this week for Aug10 contract.
Trading range is lowered to 2350-2400 after Sep10 takes over as the benchmark. Dwward bias tone if mkt stays under 7SMA.
No comments:
Post a Comment