Wednesday, March 31, 2010

20100331 1823 FCPO EOD Daily Chart Study.

FCPO closed : 2551, changed : +6 points, volume : lower.
Bollinger band reading : side way downside biased.
MACD Histrogram : recovering, seller lock in partial profit.
Support : 2550, 2521, 2500, 2470 level.
Resistant : 2570, 2590, 2620 level.
Comment :
Better export data released today seems didn't entice FCPO enough to end the day just fraction higher in lower volume after yesterday ultra high volume transacted. Daily chart technical reading has turned from a downside biased into a side way range bound downside biased market as the Bollinger band width stopped expanding today.
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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