Friday, August 6, 2010

20100806 1936 FCPO Weekly Chart Study.

Weekly Close: 2661, High: 2695, Low: 2604, Range: 91 points
FCPO closed : 2661, changed : +144 points, volume : higher.
Bollinger band reading : range bound, upside biased.
MACD Histrogram : getting higher, buyer seized control.
Support : 2650, 2600, 2540 level.
Resistant : 2700, 2720, 2800 level.
Comment :
FCPO rallied over the week after fundamental lower stock level urged limited supply with uncertain weather news worried productions development. Weekly char shows market traded strongly with the outlook suggesting a just started upside biased potential market with possible little pullback as price seems surged a little over upper Bollinger band level.

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