Sunday, 15 January 2012

60 min chart

FCPO 3151; Open gap-down and closed near the lows. Broke down from the Pennant means this is not just a mere correction - maybe a short term downtrend. With last Friday's fall on soya oil price at CBOT, can expect more retracement. If  3140 breaks, next support will be 3097, then 3052. Resistance ; 3176,3295,3244.