Bollinger band reading : correction upside biased.
MACD Histrogram : turned downward, buyer continue to take profit.
Support : 2470, 2450, 2400 level.
Resistant : 2500, 2520, 2550 level.
Comment :
FCPO opened higher and traded side way range bound but still manage to record marginal gain for the first session in low volume transaction despite ITS export data show a drop in export for the period of 1~25 July 2010. Hourly chart shows that market continue to have correction testing middle Bollinger band support level with the outlook having a side way range bound upside biased reading.
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