Tuesday, April 6, 2010

20100406 1830 FCPO EOD Daily Chart Study.

FCPO closed : 2520, changed : -14 points, volume : higher.
Bollinger band reading : side way downside biased.
MACD Histrogram : continue lower, seller in charge.
Support : 2500, 2470, 2450 level.
Resistant : 2521, 2550, 2570 level.
Comment :
Profit taking took place during second session lifted FCPO to closed off the low in increasing volume changed hand. Side way range bound downside biased market reading still shows on the daily chart.
When to buy : buy at support or weakness with quick cut loss and profit target.
When to sell : sell at resistant or strength with quick cut loss and profit target.

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