Bollinger band reading : downside biased.
MACD Histrogram : reversed lower, seller taking chances again.
Support : 2400, 2370, 2340 level.
Resistant : 2450, 2470, 2500 level.
Comment :
Mr Bear dominated both the equity and commodities market today as major commodities also facing selling pressure and traded lower. The same goes to FCPO that ended the day lower right at the low with improved volume traded forming a wide range down bar candle. Daily chart reading shows that the downside biased market movement has resumed after a few days of correction testing the recent tested support level.
When to buy : buy at support or weakness with quick cut loss and profit target.
When to sell : sell at resistant/strength/breakdown with quick cut loss and profit target.
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