A place for all traders and investors of Futures Markets.
Monday, November 30, 2009
20091130 1825 FCPO EOD Daily Chart Study.
FCPO closed 10 points lower at 2472 with lower volume traded forming a doji bar candle. Price still closed above middle Bollinger band = market uptrend remained unchanged. Bollinger band width turned narrowing = the uptrend correction phase is likely to continue. MACD Histrogram getting lower = selling activities dominated today's market transaction. Correction likely to continue to immediate support stands at 2430 level.
When to buy : buy at support or weakness with quick cut loss and profit target.
When to sell : sell at resistant or strength with quick cut loss and profit target.
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