Monday, July 7, 2008

FCPO potential to test 3435

Market weakened further following a long black candle printed on the daily chart. Prices tested the support at 3516-3510 and potential to test the low at 3435 (low since 5th Jun, 2008) in near term. For upside, we look for the resistance at 3647.

Market view: hold short position with buy stop at 3647