Tuesday, March 23, 2010

20100323 1240 FCPO Mid Day Hourly Chart Study.

FCPO closed : 2582, changed : +12 points, volume : low.
Bollinger band reading : side way range bound.
MACD Histrogram : weakening, no significant moce by both buyer and seller.
Support : 2570, 2550, 2521 level.
Resistant : 2590, 2620, 2650 level.
Comment :
Tight range thin volume FCPO closed for lunch break at higher ground in unison with soy oil futures price development. Hourly chart technical reading still suggesting a side way range bound market development as there is no obvious action by both buyer and seller with the thin volume traded.

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