FCPO closed : 2449, changed : +149 points, volume : higher.
Bollinger band reading : side way range bound, downside biased.
MACD Histrogram : reversed upward, seller book profit and reduce position.
Support : 2300, 2240, 2200 level.
Resistant : 2350, 2400, 2450 level.
Comment :
The anticipated pullback correction took place as FCPO rebounded strongly with increasing volume traded recovered previous 3 weeks drop due to supply, demand and seasonal factor. Weekly chart shows that price surged powerfully trying hard to reach the resistant level near middle Bollinger band level with the reading recommending a side way range bound downside biased market outlook.
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