Bollinger band reading : bearish.
MACD Histrogram : getting weaker, seller in the market.
Support : , 2440, 2400 level.
Resistant : 2470, 2500, 2521 level.
Comment :
It's all about China now ! The China central bank is tightening the reserve ratio on Chinese banks triggered most equity and commodities market to fall. Same fate happen to FCPO that opened gap down and continue to trade lower with high volume. Hourly chart wise, price just touched the lower Bollinger band today since 21 Jan indicate that seller are testing the market strength to see if there is any further downside potential. Should Bollinger band turned expanding in the afternoon session with MACD Histrogram continue lower and supportive volume will see FCPO to go further downward.
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