Wednesday, March 17, 2010

20100317 1236 FCPO Mid Day Hourly Chart Study.

FCPO closed : 2592, changed : +23 points, volume : moderate.
Bollinger band reading : side way range bound.
MACD Histrogram : recovered, seller reduce exposure
Support : 2590, 2570, 2550 level.
Resistant : 2620, 2650, 2670 level.
Comment :
FCPO price improved better tracking soy oil and crude oil futures price that trade higher after US meeting decided not to raised interest rate for the time being. Hourly chart wise, price pump up to middle Bollinger band level with the band width narrowing suggesting market to trade side way range bound testing higher resistant level.

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