Wednesday, May 19, 2010

20100519 1811 FCPO EOD Daily Chart Study.

FCPO closed : 2435, changed : -10 points, volume : lower.
Bollinger band reading : downside biased.
MACD Histrogram : continue lower, seller in control.
Support : 2400, 2370, 2340 level.
Resistant : 2450, 2470, 2500 level.
Comment :
FCPO ended the day on lower ground with improved volume transacted in unison with weaker soy and crude oil price developement. Dialy chart wise, near crucial support price still having downside biased reading with correction still taking place.
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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