20100128 1810 FCPO EOD Daily Chart Study.

FCPO closed : 2451, changed : +22 points, volume : lower.
Bollinger band reading : bearish side way.
MACD Histrogram : recovering, seller closing position .
Support : 2440, 2400, 2370 level.
Resistant : 2470, 2500, 2521 level.
Comment :
Weaker US Dollar lead with recovering soy oil futures price lead FCPO to trade higher as seller decide to close partial of there positions. Looking on the daily chart, FCPO outlook still baised to bearish outlook with possible correction taking place. Expecting market to trade 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 larger cut loss and profit target.