Thursday, December 31, 2009

20091231 1236 FCPO Mid Day Hourly Chart Study.



FCPO closed : 2642, changed : +47, volume : low.
Bollinger band reading : bullish with further upside potential
MACD Histrogram : improving, buyer returned.
Support : 2630, middle Bollinger band level.
Resistant : 2650, 2670 level.
Comment :
Break and trade above crucial 2630 resistant level that turned into support shows some strength of the underlying market.
Further upside likely.

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