Friday, July 23, 2010

20100723 1828 FCPO EOD Daily Chart Study.

FCPO closed : 2498, changed : -21 points, volume : lower.
Bollinger band reading : correction upside biased.
MACD Histrogram : turned downward, buyer continue to take profit.
Support : 2470, 2450, 2400 level.
Resistant : 2500, 2520, 2550 level.
Comment :
Profit taking FCPO ease lower in lower volume traded ahead of the weekend after opened higher. Daily chart wise, market is currently having correction within a upside biased reading market development.
When to buy : buy at support or weakness with quick cut loss and profit target.
When to sell : sell at resistant or strength with quick cut loss and profit target.