FCPO Daily: Losing ground

Market is losing ground following prices failed to hold above the physiological support at 2600 levels. Thus, market is likely to extend its correction mode. As for now, we are looking for the upside resistance at 2650-2652 (gap left over on 12/3/2010) followed by 2670. To the downside, immediate support is lies at 2580 followed by 2542-2523 (gap left over on 8/2/2010).