Tuesday, July 13, 2010

20100713 1302 FCPO Mid Day Hourly Chart Study.

FCPO closed : 2338, changed : -2 points, volume : low.
Bollinger band reading : upside biased.
MACD Histrogram : weakening, not much action by both buyer and seller
Support : 2330, 2300, 2270 level.
Resistant : 2350, 2370, 2400 level.
Comment :
No follow through FCPO traded 2 points softer in lack of participation by both buyer and seller. Hourly chart outlook still having an upside biased reading but the quiet volume transacted raised some doubt about the upward movement momentum.

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