Tuesday, October 13, 2009

20091013 1235 FCPO Hourly Chart Study. Holding Up Still.



FCPO gap 25 points higher to opened at 2172 but trading stay side way in the range of only 13 points. At closed of the morning session, price still trading above mid Bollinger Band = Bullish. Bollinger Band width continue to widen suggest that market movement will be trading upside biased. But MACD histrogram stay flat suggesting that buyers are not eager to push up the price yet. Perhaps market are still in accumulating phase before shooting up higher. Buyer out number seller in 6 to 4 ratio.

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