Monday, August 01, 2011

Fkli wrap....more bounce in the card if above 50




Equities rebound on US debt deal news in early Asian hours. Regional/DJfuts trade mostly near +2% after the news but off highs in PM to finish near +1%. EU near +1%.

Fbm strong the first hour and stagnant near the high 56-58 for the rest of the day. Fkli takes discount stance in AM before catching up with fbm in PM. Both stuck near 7SMA resistance. But upside potential towards 70 this week if it sustains above 50.

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