Friday, May 20, 2011

Morning start...fkli firm 1540-43 fcpo firm 3360-70

DJ +50, Europe +0.55, bulls hanging on. but all seems quiet. Regional flat to +0.2%. Commodity mixed. Mostly flat, CO off Thu's high, -1%.

FKLI 40-45 top range again ? or breakout for 45-50 ? All depends on fbm direction as externals are unlikely to provide strong indications. Generally bullish if above 40 or stay +ve, above 35, for the week. Dwside seen limited today.

FCPO SO +0.1%. internal momentum to test 3400 ? Bullish if above 3350. Profit take sell seen above 3400 today.

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