Saturday, January 23, 2010

20100123 0104 FCPO Weekly Chart Study.


FCPO closed : 2455, changed : -35 points, volume : higher.
Bollinger band reading : side way .
MACD Histrogram : getting lower.
Support : 2400, middle Bollinger band, 2240 level.
Resistant : 2521, 2650 level.
Comment :
Correction continued this week after market tested the support near 2400 level and recovered slightly. Weekly chart suggesting a continue side way range bound market with possible testing the weekly middle Bolliger band level before resuming it's longer term uptrend movement.

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