Tuesday, June 2, 2009

FCPO Daily: Gaining ground


Bulls had further gaining ground to stabilise and protect its territory. A firm close above 2600 mark has showing little sign of recovery from the recent sell down. However, we yet to identify the resume of up-trend as more effort is still needed to form a concrete base. As for now, we are looking for the immediate upside resistance at 2650-2665 followed by 2730-2760. To the downside, support is pegged at 2594-2585 (gap left over on 1/6/2009) followed by 2490-2480.