FCPO Daily: Market momentum remains weak

Market momentum remains weak despite prices close off the intra-day low. Hence, correction mode is likely to extend in near term. As for now, we are looking for the immediate upside resistance at 2586-2590 (gap left over on 16/3/2010) followed by 2630-2640. To the downside, immediate support is lies at 2542-2523 (gap left over on 8/2/2010).