Tuesday, January 12, 2010

20100112 1247 FCPO Mid Day Hourly Chart Study.


FKLI closed : 2551, changed : -34 points, volume : low.
Bollinger band reading : bearish.
MACD Histrogram : getting lower, selling activities continue to increase.
Support : 2560, 2500 level.
Resistant : 2580, 2600 level.
Comment :
FCPO open gap down lower and traded side way ranging within a 16 points range with low volume change hand. Hourly chart reading still biased to a further downside market but could possibly having a pull back upward affect after opened below the lower Bollinger band level.

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