Tuesday, March 16, 2010

20100316 1243 FCPO Mid Day Hourly Chart Study.

FCPO closed : 2557, changed : -18 points, volume : high.
Bollinger band reading : downside biased.
MACD Histrogram : falling, seller in charge.
Support : 2550, 2521, 2500 level.
Resistant : 2570, 2590, 2620 level.
Comment :
Seller FCPO market continue to trade lower with sustainable volume transacted.Hourly chart reading remain downside biased but however a pullback could possibly take place in the near term as price traded away from the lower Bollinger band.

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