Wednesday, December 5, 2012

20121205 1807 FCPO EOD Daily Chart Study.

FCPO closed : 2287, changed : -7 points, volume : lower.
Bollinger band reading : downside biased with possible pullback correction.
MACD Histogram : falling lower, seller in control.
Support : 2250, 2230, 2200, 2130 level.
Resistance : 2300, 2350, 2400, 2450 level.
Comment :
FCPO closed weaker with decreasing volume exchanged. Soy oil price currently trading higher after overnight closed recorded small loss while crude oil price edging upward.
Price swung between gains and losses after Reuters survey result shows higher stock level but weaker production level.
Daily chart study continue suggesting a downside biased market development with possible pullback correction.
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.

No comments: