Not only 3100 but 3200. After 3 days of stagnation, fcpo finally make its move today , with great momentum too – suprises many. Commodity and Asian equity on the run after Fed’s $600b stimulus announcement. Cheaper $ coming to Asian and risky asset like commodity.
Two gap up today -AM, above 3100 and PM, above AM high of 3155. Both on SO strength. therefore, a lot of tech buying.
3100-3300 trading range. Above 3150 is bullish, with the next breakout point seen at 3200 or 3208 next week, targeting 3300-3335. otherwise 3100-3200 consolidation range.
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