Friday, March 19, 2010

FCPO Daily: Losing ground


A dark cloud cover following the technical rebound was not able to sustain. Market slid to cover partial of the gap left over at 2542-2523. Market momentum weaken further and looks may continue to move bias sideways to lower in near term. Immediate upside resistance is pegged at 2600 followed by 2630-2640. While, downside support is lies at 2528-2523 (left over gap since 8/2/2010) followed by 2470-2462 (gap left over since 2/2/2010).