Wednesday, January 12, 2011

Fcpo wrap.....profit take buy if external improves....



-CO big gains fail to inspire the rest…commodity restless to lower following a weak start this week. CO jumps on isolated event…shut dw of pipeline near Alaska ..i think.

-a breakdw under 3700 set tone for the rest of the day, but manages to finish off lows after hitting strong support lvl.

-fcpo is ready for weekly-bounce, re-test resistance but within the triangle zone first as sentiment is unlikely to recover sharply this week. Kneejerk under 3600 remains a big risk till fcpo regains 3700

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