20091005 1825 FCPO EOD Daily Chart Study.

FCPO closed 5 points lower on low volume with 27 points range today to closed at 2042 forming a small body white bar with upper tail. Market opened gap down by 7 points went to the high of 2057. Price still closed below Mid Bollinger Band = Bearish/down trend intact. Bollinger Band width continue to expand suggest market will be trading bias toward the downside. MACD histrogram lowered = seller still in the market. Volume traded are higher compare to last Friday.

When to Buy : Cannot initiate long position.
When to Sell : Short at resistant or break down with larger profit/cut loss.