Monday, January 18, 2010

FCPO Weekly: Sideways to lower


Market extended its losing streak for straight two weeks had dampened further the immediate technical landscape. Market looks may move sideways to lower in near term following prices continue to lose ground. As for now, we are looking for the immediate upside resistance at 2650-2670. To the downside, immediate support is lies at 2428-2419 (gap left over on 29/11/2009)followed by 2305-2285 (gap left over on 22/11/2009).