Bollinger band reading : side way range bound.
MACD Histrogram : getting lower, seller taking exposure.
Support : 2530, 2500, 2450 level.
Resistant : 2580, 2630, 2700 level.
Comment :
FCPO continue to trade lower in diminishing volume week on week. However, weekly chart reading has yet to turn negative and still suggesting a side way range bound market as the Bollinger band width continue to turn inward. Should price continue to trade lower with supportive volume in the coming week and Bollinger band width stop contracting will lead market to a negative biased development.
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