Tuesday, June 15, 2010

20100615 1817 FCPO EOD Daily Chart Study.

FCPO closed : 2391, changed : -19 points, volume : higher.
Bollinger band reading : downside biased.
MACD Histrogram : reversed downward again, seller increase exposure.
Support : 2370, 2350, 2330 level.
Resistant : 2400, 2450, 2470 level.
Comment :
FCPO resume it downward movement after yesterday correction by opened higher following by continue sell down push price to settle weaker in increase volume changed hand. Market still look weak with downside biased potential on the daily chart basis after closed at below crucial support level for the second time.
When to buy : buy at support or weakness with quick cut loss and profit target.
When to sell : sell at resistant/strength/break down with quick cut loss and profit target.

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