Monday, February 8, 2010

20100208 1248 FCPO Mid Day Hourly Chart Study.

FCPO closed : 2550, changed : +29 points, volume : low.
Bollinger band reading : bullish.
MACD Histrogram : rising, buyer in control.
Support : 2521, 2500, 2470 level.
Resistant : 2550, 2590 level. 
Comment :
FCPO opened and traded higher in low volume activities after tested and closed right at the higher resistant level. Technically, hourly chart and all indicators also having bullish reading with possible pullback affect as price traded a little above the Bollinger upper band level. Nevertheless, FCPO is likely to trade side way range bound upside biased. Hopefully more volume will return to the market at the 2nd half session.

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