Tuesday, January 11, 2011

Fcpo wrap...no support yet ...extension -ve outlook

-early skeptical becomes reality as late selling activities continue to drive fcpo lower, like in the past 3 trading days

-fcpo “’premium”'s pressure, US$55 on last count , is driving tech bulls crazy. Like it or not, fpco is in a short term dwtend cycle till it regains certain major resistance lvl, like > 3800 this week.

-Immediate resistance is lowered to 3760. Dw risk continues but fcpo is seen supported near 3650++ this week

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