20091016 1850 FCPO Weekly Chart Study.

Nothing interesting in the FCPO weekly chart. Market closed higher after attempt to break but still stay below the mid Bollinger Band shows that market still trading sideway range bound. The side way market also been confirmed by the narrowing Bollinger Band width. Having said that, MACD Histrogram has stopped falling and reversed to turn upward suggesting that there are buyer coming in to support the market. A break above mid Bollinger Band followed by supporting volume and Bollinger Band width stopped narrowing would triggered the CPO market toward an upward direction market. Else FCPO will continie to trade sideway next week.