Bollinger band reading : neutral side way likely.
MACD Histrogram : recovering higher, buyer taking chances.
Support : 2500, 2470, 2440 level.
Resistant : 2521, 2550, 2590 level.
Comment :
FCPO ended marginally higher with moderate volume after opened gap down at support level and recovered higher breaking above 2500 resistant level that turned into support. The significant of today wider body up bar candle and improving MACD Historgram reading shows that buyer remained interest to participate in the market. However the overall daily chart reading still shows a side way range bound level with possible testing higher resistant level.
When to buy : buy at support or weakness with quick cut loss and profit target.
When to sell : sell at resistant or strength with quick cut loss and profit target.
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