Wednesday, June 9, 2010

20100609 1815 FCPO EOD Daily Chart Study.

FCPO closed : 2418, changed : -14 points, volume : higher.
Bollinger band reading : downside biased.
MACD Histrogram : continue lower, seller in control.
Support : 2400, 2370, 2350 level.
Resistant : 2450, 2470, 2500 level.
Comment :
Continue weaker FCPO traded in improving volume but support still defended well as price failed to break below 2400 level. Daily chart reading started to turned into suggesting a downside biased potential market for the near term.
When to buy : buy at support or weakness with quick cut loss and profit target.
When to sell : sell at resistant/strength/break down with quick cut loss and profit target.

No comments: