EPISODE · Feb 11, 2011 · 2 MIN
Bears are in Control
from Market Watch · host BFM Media
Next View Sdn Bhd Chief Market Strategist Benny Lee says the FBM KLCI is overwhelmed by selling pressure. Volume this week was twice of last week's, indicating heavy selling in our market. Even so, underlying trend is still up. He views the key support level at 1,450-1470 so further downside correction expected. He expects more volatility for next two weeks before market direction is clear again. For crude palm oil futures, he expects further market correction. Even so, he's still bullish on CPO, expecting it to hit RM4,100 within the next few weeks. He expects further market consolidation downwards, so will be looking at his long term portfolio to start disposing some stocks, and won't be buying CPO today. See omnystudio.com/listener for privacy information.
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Bears are in Control
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