Monday, December 10, 2012

20121210 1815 FCPO EOD Daily Chart Study.

FCPO closed : 2313, changed : +16 points, volume : lower.
Bollinger band reading : pullback correction little downside biased.
MACD Histogram : recovering, buyer seller battling.
Support : 2300, 2250, 2230, 2200, 2130 level.
Resistance : 2300, 2350, 2400, 2450, 2490 level.
Comment :
FCPO closed recorded small gains with lesser volume changed hand. Soy oil price currently trading little weaker after last Friday closed marginally lower while crude oil trading higher after Friday loss.
Market still moving side ways between gains and losses after MPOB reported negative price biased November official data while 2 cargo surveyors release mixed exports figure.
FCPO daily chart reading continue suggesting a pullback correction little downside biased 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.

No comments: