Wednesday, June 23, 2010

20100623 1805 FCPO EOD Daily Chart Study.

FCPO closed : 2384, changed : +7 points, volume : higher.
Bollinger band reading : downside biased.
MACD Histrogram : turned upward, seller taking profit.
Support : 2370, 2350, 2330 level.
Resistant : 2400, 2450, 2470 level.
Comment :
Better volume tight 22 points range FCPO traded marginally higher with daily chart reading continue to show a downside biased market outlook.
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 larger cut loss and profit target.

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