FCPO ended today 17 points lower to closed at 2513 with low volume participated. Support came in when price touched the middle Bollinger band level and manage to closed above it with the band width continue narrowing = the uptrend correction could continue or paused here. MACD Histrogram lower = selling forces still strong. With the support level touched today, there could be 2 scenario where market could possibly continue to do downward correction with next support near 2360 level or resume its upward movement from here with immediate resistant level at the upper Bollinger band.
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:
Post a Comment