Tuesday, December 1, 2009

20091201 1822 FCPO EOD Daily Chart Study.



Crude palm oil futures closed firmer up 23 points at 2495 with lower volume. Daily chart wise, the Bollinger band reading still favour an upward movement market. However, MACD Histrogram registered a lower reading hints a continuing downward correction market. Immediate support stands at 2428 level and resistant rest at 2521 level.
When to buy : buy at support or weakness with quick cut loss and profit target.
When to sell : sell at resistant or strength with quick cut loss and profit target.

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