Monday, January 5, 2009

FCPO Weekly: End of Consolidation Phase


Market has comes to the end of consolidation phase as prices break up from the triangle pattern. Chart wise, market may continue to move bias upside potential in near term. As for now, we are looking for the resistance at 1902-1934 (gap left over since 5/10/2008). While, downside support is pegged at 1625-1596 (gap left over since 28/12/2008).