FCPO closed : 2592, changed : +38points, volume : Higher.
Bollinger band reading : Sentiment turned slightly positive.
MACD Histrogram : recovering, buyer returned but at a small scale.
Support : 2555, middle Bollinger band level.
Resistant : upper Bollinger band, 2630 level.
Comment :
FCPO managed to trade higher despite relatively low volume transacted last Thursday and today. Daily chart wise, FCPO still trading in an uptrend market but a little doubt here about the upward momentum sustainability will be the low volume transacted. Hope that fresh buying interest will come in soon. On the other hand, both ITS and SGS cargo survey recorded a drop of 11.4% and 14.5% in crude palm oil export for the period of 1~25 Dec 2009 respectively.
When to buy : buy at support/weakness/break up 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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