FCPO Daily: Bears strike

Bears strike following bulls failed to defend. Immediate technical outlook is losing its upward momentum to bias downside potential. As for now, we are looking for the immediate upside resistance at 2570-2572 (gap left over on 12/1/2010) followed by 2630-2650. To the downside, immediate support is lies at 2540-2535 followed by 2500-2480 levels.