Bollinger band reading : upside biased.
MACD Histrogram : turned higher, buyer returned.
Support : 2670, 2650, 2620 level.
Resistant : 2700, 2730, 2750 level.
Comment :
FCPO opened lower on the second session followed by buyer action lifted price up breaking 2 levels of resistant with supporting volume. Daily chart outlook shifted from side way range bound into bullish biased market. Expect market to trade side way range bound upside biased in the near term. Having said that, market may have some correction before surging higher as today up wide range bar candle touched and closed near the upper Bollinger band level shows that market is a little overbought.
When to buy : buy at support/weakness/break up 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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