Wednesday, December 19, 2012

20121219 1807 FCPO EOD Daily Chart Study.

FCPO closed : 2330, changed : -12 points, volume : lower.
Bollinger band reading : correction range bound downside biased.
MACD Histogram : rising higher, seller reducing position.
Support : 2300, 2270, 2250, 2230 level.
Resistance : 2350, 2400, 2450, 2490 level.
Comment :
FCPO closed recorded small gain with slowing down volume traded. Soy oil price currently recovering higher after overnight fall while crude oil price trading firmer.
FCPO daily chart reading revised to suggesting a correction range bound downside biased market development with immediate support near middle Bollinger band level.
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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