FCPO gap up higher during morning opening and traded higher but the lack of supporting volume pushed it down back to closed at the opened price of 2270 up only 4 points although export figure released appears to be a positive one. Chart wise, price maintained itself at above middle Bollinger band within an expanding band width = FCPO still possessed the potential to trade higher. MACD Histrogram also climb higher into the positive zone = buying activities still in control of the market. The only doubt here will be the insufficient volume traded and should monitor volume transaction developement in the second session for any opportunity to initiate long position.
No comments:
Post a Comment