Monday, October 18, 2010

Fcpo wrap..from range bound to trading sell





Fcpo suffers an opening gap-dw under 2900 following SO sharp drop, near -2%. However, it manages to reduce some losses but sentiment remains toppish all day long, with strong selling interest above 2900 today.

Fcpo Jan10 finds support at 7SMA but dwward-bias if <2900, targeting the previous gap-up 2808-2877 hole. Bulls will have an equal chance if fpco near 2930 tomorrow.

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