A good closing for the week after a steep fall to the low of 3439. This had created a long lower shadow candle with its small real body try to stay in the ascending triangle zone. Market may continue to look for a range to enter in consolidation phase in near term. Thus, we now look for the major support at 3420-3433. For upside, resistance is at 3647.
Friday, July 11, 2008
FCPO weekly: Rebound after a steep fall
A good closing for the week after a steep fall to the low of 3439. This had created a long lower shadow candle with its small real body try to stay in the ascending triangle zone. Market may continue to look for a range to enter in consolidation phase in near term. Thus, we now look for the major support at 3420-3433. For upside, resistance is at 3647.
