Fkli in similar pattern and range like yesterday, late selling as Europe/DJ futs off highs in late Asian hours. Regional receives boost after lunch break as China jumps, closing 2.8%, on exports data for May10. (up 50% from a year ago)Fkli instantly narrows AM discount and reaches par near 90 in the first half of PM. . But fbm feels satisfy at 90 – zero move in PM session, 90-91 range. This causes selling back into fkli but more steady than Tues.
Technically, not much breakthrough to the upside yet – still licking Mon’s wound. But further upside correction seen if > 1280, target the top end of 1270-1300 consolidation band.
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