Taking advantage of equity strong sentiment, fcpo made a run in AM session after crossing 2300 resistance, what seemed to be an easy feat for mkt bulls. However, selling appeared in PM session, forcing another tug-of-war at 2300.
Mkt trends lower but ends the week on sideways tone – meaning mkt may consolidate for awhile before a resumption of its dwtrend. It needs to break above 2330 to convince fresh long positions in the near term. Support is raised to 2270. If breached 2200 could be the next target.
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