Thursday, January 3, 2013

20130103 1813 FCPO EOD Daily Chart Study.

FCPO closed : 2475, changed : -26 points, volume : higher.
Bollinger band reading : pullback correction upside biased.
MACD Histogram : turned downward, buyer taking profit.
Support : 2450, 2400, 2350, 2300 level.
Resistance : 2490, 2520, 2550, 2570 level.
Comment :
FCPO closed recorded loss with rising volume transacted. Overnight soy oil closed rallied higher by more than 2% and currently slipping little lower while crude oil price also having pullback correction.
FCPO daily chart reading revised to suggesting a pullback correction upside 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.

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