Tuesday, May 4, 2010

20100504 1236 FCPO Mid Day Hourly Chart Study.

FCPO closed : 2543, changed : -11 points, volume : low.
Bollinger band reading : side way range bound.
MACD Histrogram : getting lower, seller testing their luck.
Support : 2521, 2500, 2470 level.
Resistant : 2550, 2570, 2600 level.
Comment :
Seems like the side way market is going to continue draging for a little longer. 11 point range near dead volume FCPO eased lower during the first half session. Hourly chart reading continue to show a side way range bound market with a little upside biased.

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