SET 50 : Still risk of a Libya inspired sell-off to 665-666
February 23, 2011 Leave a comment
A very impressive attempt at stability this morning, and certainly better than our bearish stance thought likely. But there is time yet for a pullback, and we still think 680 or so might not be able to hold it should events in Libya shake world markets over the coming 48 hours. We think there is a decent chance of a pullback to 665-666. A weekly close above 700 is needed to cancel our bearish scenario.