Bollinger band reading : bearish.
MACD Histrogram : up slightly, seller took partial profit.
Support : 2500, 2480, 2450 level.
Resistant : 2550, middle Bollinger band level.
Comment :
FCPO opened gap down followed with some panic selling pushed price to touched the 2500 support level before seller decided to lock in partial profit lifted price up slightly. Chart wise show some mixture signal with Bollinger band suggested a possible further downside market but MACD Histrogram seems edge up slowly. Another thing to take notice will be the possible positive divergence between price and the MACD Histrogram that could suggest that the market may have a pullback effect should MACD Histrogram continue to edge up higher. Just my funny feeling and wild guess. Not suggesting to go long, just that short trader may need to caution on this but nevertheless, hourly chart do look bearish with further downside potential.
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