Friday, March 19, 2010

20100319 1454 FCPO Mid Day Hourly Chart Study.

FCPO closed : 2548, changed : +13 points, volume : low.
Bollinger band reading : side way downside biased.
MACD Histrogram : reversed upward, seller still in control.
Support : 2521, 2500, 2470 level.
Resistant : 2550, 2570, 2590 level.
Comment :
Pullback effect took place in FCPO that managed to recovered small portion of yesterday losses in thin volume. Chart wise, the upward correction market is likely to stay side way range bound with a little downside biased.

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