Bear continue to hammer the market momentum following the physiological support at 3000 violated. Prices sank to hit the fresh year low at 2861 and recovered with printed a long lower shadow candle. Gap at 2907-2885 left over on 12-13 Dec, 2007 was fully covered. We continue to look for 1st support at 2838-2840 followed by 2814-2800 (gap left over on 25-31 Oct, 2007). Resistance is remained at 3150-3160.
Tuesday, July 29, 2008
FCPO fresh year low
Bear continue to hammer the market momentum following the physiological support at 3000 violated. Prices sank to hit the fresh year low at 2861 and recovered with printed a long lower shadow candle. Gap at 2907-2885 left over on 12-13 Dec, 2007 was fully covered. We continue to look for 1st support at 2838-2840 followed by 2814-2800 (gap left over on 25-31 Oct, 2007). Resistance is remained at 3150-3160.