Wednesday, January 21, 2009

FCPO Daily: 1800 mark try hard to defend


Give a big clap to 1800 as it tried hard to defend well. Market tested the 1800 mark intra-day basis but manage to climb back to close above it. Chart wise, market may extend its sideways mode. We continue to look for downside support at 1800-1790 followed by 1738-1723. Upside resistance is at 1860-1870 followed by 1890.