Monday, January 17, 2011

Fcpo wrap....still defensive....3600 support in danger


-Following a change of active mth, discount in forward mth only implies negative outlook on continuous chart basis and lucky to escape a fresh breakdw scenario. Internal momentum remains weak.

-fcpo mostly firmer, Mar10 up RM+19, Apr10 contract up RM7 but cautious to the high side amid sell-on-strength. Fcpo still sideways but danger of breakdw , under 3600, continues till it regains 3700 resistance.

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