Bollinger band reading : neutral but sentiment turned negative.
MACD Histrogram : getting lower, selling activities accelerate.
Support : 2560, 2521 band level.
Resistant : 2630, 2680 level.
Comment :
Bearish export figures with record high stock level data ignite seller interest to come into the market with heavy selling activities that also triggered lots of long covering pushed market to closed the day with a long body black bar candle. Technically speaking, FCPO chart still supported by the plotted upward trend line with a possible MACD bearish divergence forming. But the bearish sentiment does looks significant with today ultra high volume traded(highest since Oct 2009). Overall, market is still in an uptrend in the bigger picture and this could be a big correction in the making. Expect market to go side way range bound downside biased in the near term.
When to buy : buy at support or weakness with quick cut loss and profit target.
When to sell : sell at resistant/strength/break down with quick cut loss and profit target
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