Friday, November 20, 2009

FCPO Daily Immediate outlook remains positive


Market took a little breathe after the recent strong rebound to cover until some of the 3rd upside gap. Nevertheless, immediate daily technical reading remains positive. Thus, we are still looking the upside resistance at 2415-2424 (unfilled gap since 17/8/2009) followed by the next resistance at 2521 (high since 13/8/2009) in near term. While to the downside support remains at 2305-2273 (gap left over on 16/11/2009).