Wednesday, July 14, 2010

Fcpo wrap....bullish trend continues...2400 next


Commodity higher trend today on weaker dollar.

5-day–RM111 winning streak. All day remains +ve but thin vol. fcpo clears another resistance today, 2370, with ease, therefore bulls are unlikely to give up till a test at 2400 to gauge bears intention.

Immediate support is raised to 2370 from 2350. Mkt is unlikely to break above the upper red line this week without a pullback first.

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