Thursday, June 10, 2010

20100610 1240 FCPO Mid Day Hourly Chart Study.

FCPO closed : 2419, changed : +1 point, volume : low.
Bollinger band reading : downside biased.
MACD Histrogram : recovering, seller taking partial profit.
Support : 2400, 2370, 2350 level.
Resistant : 2450, 2470, 2500 level.
Comment :
Positive export data released by ITS (up 22.7% @ 435,148) didn't excite FCPO that closed only 1 tick higher in disappointing volume changed hand. However, hourly chart still suggesting a downside biased potential market development in the near term.

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