Monday, January 4, 2010

20100104 1258 FCPO Mid Day Hourly Chart Study.


FCPO closed : 2671, changed : +8 points, volume : low.
Bollinger band reading : bullish.
MACD Histrogram : getting lower slowly, buying interest lacking.
Support : 2660, middle Bollinger band level.
Resistant : 2700, upper Bollinger band level.
Comment :
FCPO opened gap up higher and retrace downward slowly due to mild profit taking activities. Market could still continue to retrace lower before buying interest return to the market to resume the uptrend movement.

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