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.

No comments: