Tuesday, February 2, 2010

20100202 1833 FCPO EOD Daily Chart Study.

FCPO closed : 2452, changed : +7 points, volume : lower.
Bollinger band reading : bearish side way likely.
MACD Histrogram : recovering, short covering.
Support : 2440, 2400, 2370 level.
Resistant : 2470, 2500, 2521 level.Comment :
FCPO closed marginally higher with lower volume traded today. Daily technical chart reading suggest that market is still trading in consolidation phase thus expecting market 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 or strength with larger cut loss and profit target

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