Tuesday, March 15, 2011

Fcpo wrap... 3-day losing streak ends....sideways seen



-strong bounce, looks like 3300 is a strong support on profit -take buy activities till mkt tests resistance lvl. While strong bounce today , mkt has yet to cross above any significant resistance yet.
-above 3300 is trading buy., targeting short term SMAs.

-likely sideways within 3300-3500 for the rest of the week. A closing under 3300 would set bearish tone for next week., targeting 3000.

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