5-day winning streak…+RM242 but new-high streak stops at 3.
A very quiet day for fcpo…same range as Thu. SO strong but seen as catching up factor. Fcpo’s weekend profit take mode continues…weak equity sentiment also a drag. For some, recent momentum is enough to justify bargains at 3500 today.
Still a pullback tone if under 3550, targeting 7SMA. While very “expensive to SO, discount of US$40-50 per tonne only ,it would take a backseat first if a breakout above 3550 occurs next week. A move that would target 3600 if not 3700.
Above 3450 is bullish.
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