FCPO third month contract traded firmer with improved volume up 49 points to closed at 2579 at the first session. Hourly chart wise, market gap up and traded strongly through out the entire morning and closed right above the upper Bollinger band with the band width expanding = market movement has turned upside biased for the near term. MACD Histrogram recorded some good progress = buying interest has returned to the market. Market managed to test above the minor resistant line at 2590 to reach the high of 2595 before easing downward due to mild profit taking activities by intraday trader. Should more volume come in at the second half session, market is likely to rest another stronger resistant level at the previous high level of 2606. Immediate support stands at 2535 level.
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