Friday, October 16, 2009

FCPO Daily: Losing ground


Market is losing ground following a sharp fall after few attempts failed to break through the great wall at 2,200 levels. Meantime, we still maintain our view in sideways to higher. Violation of 2,100 levels may change the immediate technical outlook to sideways bias to lower move. Upside resistance remains at 2,196 to 2,200 followed by 2,240. Downside support is pegged at 2108-2085 (unfilled gap left over since 12/10/2009)