Monday, July 20, 2009

FCPO Weekly: Technical correction


Market rebounded and recovered to close at the weekly high had helped to cushion a little from the recent sell down. However, overall technical landscape remains in bearish atmosphere. Thus, market may due for a technical correction in near term. As for now, we are now looking for the immediate downside support at 1964. To the upside, immediate resistance is at 2150-2200 followed by 2295-2300.