Tuesday, November 24, 2009

20091124 1827 FCPO EOD Daily Chart Study.



FCPO closed marginally lower at 2478 down 8 points forming a doji bar candle despite weaker soy oil futures price after tested the low at 2430. Daily chart wise still biased to a bullish uptrend market for FCPO in both Bollinger band and MACD indicators reading. Immediate upside target rest at 2525 and support stands at 2401.
When to buy : buy at support or weakness with quick cut loss and profit target or buy on break up with larger cut loss and profit target.
When to sell : sell at resistant or strength with quick cut loss and profit target.

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