Tuesday, January 19, 2010

20100119 1236 FCPO Mid Day Hourly Chart Study.


FCPO closed : 2488, changed : -2 points, volume : High.
Bollinger band reading : neutral, side way range bound.
MACD Histrogram : edging up slowly.
Support : 2470, 2440, 2400 level.
Resistant : 2500, 2521 level.
Comment : FCPO opened higher but failed to sustained the upward momentum due to weaker soy oil futures price and market awaits the release of export figure tomorrow. Base on the hourly chart reading, market is likely to trade side way range bound.

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