FCPO violated the recent low at 2861 and dipped to the fresh low for the year at 2820 in early session. Prices then recouped some of the losses with printed a white candle on the above chart. Nevertheless, the overall technical landscape remained in bearish mode. As for now, immediate support is at 2820 followed by 2814-2800 (gap leftover in early Nov, 2007). For upside, resistance is at 2897-2935 (gap left over today).
Monday, August 4, 2008
FCPO fresh low for the year
FCPO violated the recent low at 2861 and dipped to the fresh low for the year at 2820 in early session. Prices then recouped some of the losses with printed a white candle on the above chart. Nevertheless, the overall technical landscape remained in bearish mode. As for now, immediate support is at 2820 followed by 2814-2800 (gap leftover in early Nov, 2007). For upside, resistance is at 2897-2935 (gap left over today).