20100611 1244 FCPO Mid Day Hourly Chart Study.

FCPO closed : 2416, changed : +6 points, volume : low.
Bollinger band reading : side way downside biased.
MACD Histrogram : stay firmer, seller still defending.
Support : 2400, 2370, 2350 level.
Resistant : 2450, 2470, 2500 level.
Comment :
Tight 12 points range market FCPO traded higher in light volume changed hand following not much movement of soy oil futures price. Hourly chart looks like market would test the middle Bollinger band immediate resistant level as the reading suggesting a side way range bound downside biased market.