Tuesday, August 11, 2009

FCPO Daily: Building up base


Market surged up further to stay firm at 2400 levels had brighten up the overall technical landscape to bias upside potential. However, a more concrete base is still needed to build up for a sustainable rally in near term. Thus, market may due for correction and may cover the downside gap left over at 2354-2345 (gap left over on 10/8/2009). To the upside, resistance is looking at 2440-2450.