Friday, October 17, 2008

FCPO Hourly: jump to cover some of upside gap


Market reversed after yesterday sharp drop to 2-year low. Prices surged to intra-day high at 1700 and hovering most at 1650-1680. As for now, we look for the immediate support at 1593. For upside, resistance is at 1700-1743 (remaining gap left over since 6th Oct, 2008).