Wednesday, July 7, 2010

20100707 1257 FCPO Mid Day Hourly Chart Study.

FCPO closed : 2290, changed : -11 points, volume : moderate.
Bollinger band reading : side way downside biased.
MACD Histrogram : getting higher slowly, seller still in control.
Support : 2270, 2250, 2230 level.
Resistant : 2300, 2330, 2350 level.
Comment :
Better volume FCPO traded in tight range market and settle lower for the first session without form direction. Hourly chart wise, the reading suggesting a side way range bound downside biased market.

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