Wednesday, May 11, 2011

Fkli wrap....back to bulls camp..





Despite mixed and flat equity sentiment today, local bank strong run continues. Plus SIME . Fbm approaching recent top, 1540. Dwtrend tone is off techncially, with mkt seen attempting a breakout higher scenario. A quick shift of tone, just a week ago fear of breakdw dominates. Or it could still remain a sideways mkt, 20-40.

A breakout above 1540 could send prices towards 1570. But seen unsustainable above 1540 this week on profit take sell ahead of weekend. Bullish if above 1530

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