Upward momentum only lasted in the first 30mins following DJ futs /NK cues. The rest of the day mostly lower tone, stagnating near 65, despite strong +ve signal from regional front, HS +2%, before a last 5-mins push.
Probably, players are fearful of a pullback as fbm is running on a 7 streak. Fkli reversed Fri’s discount but selling pressure above 65 seen today.
Europe.DJ futs gains in late Asian hours also failed to cheer fbm.
Technically, at the top of its immediate target, 1370. Question now is whether it will up trading band by another notch to 1370-1400 as the next immediate moves or sideways first within 50-70.
Support is raised to 60 to maintain mkt recent upward momentum.
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