Wednesday, November 11, 2009

20091111 1241 FCPO Mid Day Hourly Chart Study.



Low volume traded this morning on FCPO that closed 9 points lower at 2233 due to lack of buying interest and increasing stock pile news from MPOB. Hourly chart wise doesn't looks promising as price closed below the middle Bollinger band with the band width expanding = market has turned into selling mood. MACD Histrogram also continue to slide lower = seller is in control of the market today. Immediate support stands at 2215 level.

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