Thursday, May 13, 2010

20100513 1243 FCPO Mid Day Hourly Chart Study.

FCPO closed : 2486, changed : -21 points, volume : low.
Bollinger band reading : downside biased.
MACD Histrogram : getting lower, selling pressure persist.
Support : 2470, 2450, 2400 level.
Resistant : 2500, 2521, 2550 level.
Comment :
FCPO continue to trade negatively ended the first half lower in hopeless volume. Hourly chart shows that market opened weakly and continue to head south and is likely to move downside biased with potential temporary pullback correction.

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