Bollinger band reading : bearish.
MACD Histrogram : turned slightly lower, seller market.
Support : 2400, 2370, 2330 level.
Resistant : 2440, 2470, 2500 level.
Comment :
In tandem with a weaker world commodities price, FCPO price eased and closed at the low with supportive high volume traded today forming a black wide range bar candle. Daily chart reading suggest a bearish further downside likely market with both Bollinger band width expanding and MACD Histrogram turned lower admitting that seller is taking control of the market. Expecting FCPO to trade side way range bound downside biased.
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 larger cut loss and profit target.
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