Wednesday, March 10, 2010

20100310 1825 FCPO EOD Daily Chart Study.

FCPO closed : 2685, changed : +35 points, volume : higher.
Bollinger band reading : upside biased still.
MACD Histrogram : continue lower, buyer retreat, seller present.
Support : 2670, 2650, 2620 level.
Resistant : 2700, 2730, 2750 level.
Comment :
Wild doji bar FCPO ended the day higher with improved volume after tested support and resistant level. Daily chart reading remained unchanged with a upside biased outlook and side way range bound correction market to take place.
When to buy : buy at support or weakness with quick cut loss and profit target.
When to sell : sell at resistant or strength with quick cut loss and profit target.

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