Thursday, June 3, 2010

20100603 1236 FCPO Mid Day Hourly Chart Study.

FCPO closed : 2474, changed : +6 points, volume : low.
Bollinger band reading : side way upside biased.
MACD Histrogram : reversed lower, buyer taking small exposure.
Support : 2470, 2450, 2400 level.
Resistant : 2500, 2521, 2550 level.
Comment :
Continue higher FCPO traded in tight 11 points range with low volume transacted. Hourly chart reading suggesting a side way range bound upside biased market that managed to break and stay above 2470 resistant turned support price level.

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