Monday, August 09, 2010

Fcpo wrap... fresh year high....still going strong


4 days winning streak, +RM168.

A pullback did not materialize instead Fcpo renewed year high mark. A reversal in SO tone triggered follow through activities in opening hours. And a crossing above 2700 set fresh bullish tone for the day with tech buying overwhelmed.

How high ?? after convincingly scaling 2700 wall. Well… the next peak is actually around 2790++. A possible scenario if fcpo stays above 2720.
Trading intra-day buy but for position long, do wait for a pullback and when 7SMA is proven support.

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