Wednesday, January 6, 2010

20100106 1240 FCPO Mid Day Hourly Chart Study.


FCPO closed : 2721, changed : + 39 points, volume : High.
Bollinger band reading : Bullish.
MACD Histrogram : reversed upward, buying interest excelerating.
Support : 2700, middle Bollinger band level.
Resistant : 2730, 2800 level.
Comment : FCPO trade strongly in the morning session ended the day near the high with supporting volume returned to the market. Hourly chart wise do looks promising for furhter upside potential but current price is trading near 2730 resistant counld see some partial profit taking activities for correction before surging up higher.

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