Friday, August 13, 2010

20100813 1000 FCPO EOD Daily Chart Study(12 Aug 2010).

FCPO closed : 2673, changed : -3 points, volume : higher.
Bollinger band reading : correction range bound upside biased.
MACD Histrogram : weakenning, buyer profit taking continues.
Support : 2670, 2650, 2620 level.
Resistant : 2700, 2720, 2750 level.
Comment :
Tested support and resistant FCPO ended just 3 tick lower in better volume changed hand as buyer program selling continue realising profit for their position. Daily chart formed another doji bar candle still having correction take place with overall upside biased market reading.
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.

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