Friday, August 7, 2009

FCPO Daily: 2300 defended


Market defended 2300 mark at close despite tested the immediate support at 2300-2280 in intra-day basis. However, immediate technical outlook remains positive mode thus we maintain our view in sideways to bias upside potential in near term. As for now, immediate resistance is at 2357 followed by 2380-2400. To the downside, immediate support is pegged at 2260-2250 followed by 2220-2200.