Thursday, June 10, 2010

Fkli wrap...testing 1300 resistance...top this week




Taking advantage of DJ futs, +80, in late Asian hours, fkli regains premium in late trading after some selling pressure when Europe drifts near -1%, pulling fkli off it highs and towards 1290s. Like Wed. fbm hardly made a move, causing 1300 toppish outlook for fkli in AM session. Europe recovers, near flat line, in late Asian hour.

Technically, 1300 remains on course but looks heavy this week with profit take pressure expected but could signal a new upper range in the coming week. Support is raised from 80 to 86.


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