Thursday, March 11, 2010

20100311 1840 FCPO EOD Daily Chart Study.

FCPO closed : 2660, changed : -25 points, volume : higher.
Bollinger band reading : side way upside biased still.
MACD Histrogram : getting weaker, buyer retreat, seller present.
Support : 2650, 2620, 2590 level.
Resistant : 2670, 2700, 2730 level.
Comment :
Correction FCPO ended today lower in high volume with last minutes selling activities pushed price lower. Side way upside biased market with some test at support level is likely to take place in the near term as shown on the daily chart technical reading.
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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