Monday, April 26, 2010

20100426 1821 FCPO EOD Daily Chart Study.

FCPO closed : 2560, changed : +20 points, volume : higher.
Bollinger band reading : side way range bound little upside biased.
MACD Histrogram : getting higher, buyer present.
Support : 2550, 2521, 2500 level.
Resistant : 2570, 2600, 2620 level.
Comment :
FCPO ended the day firmer in sustaining volume transacted following a stronger soy oil futures price development. Daily chart reading has turned into a side way range bound market little upside biased market with MACD Histrogram positive divergence spotted.
When to buy : buy at support/weakness/break up 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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