Monday, November 23, 2009

20091123 0928 FCPO Weekly Chart Study.



Crude palm oil closed the week strongly with a wide range bar candle and higher volume changed hand. Looking at the weekly chart, all indicators on the chart are giving supporting signal for FCPO to move higher with a potential double bottom in the forming. Immediate support stands at the middle Bollinger band level and resistant rest at the 2521 level.

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