Bollinger band reading : correction upside biased.
MACD Histrogram : weakening, buyer defending position.
Support : 2470, 2450, 2400 level.
Resistant : 2500, 2520, 2550 level.
Comment :
Lesser volume participation FCPO closed little higher after tested above resistant level but lack of supportive volume resulted price to closed just 5 points below it. Daily chart wise, market opened lower and closed near the high formed a up bar candle but still lack of supportive volume. Outlook retained a correction range bound upside biased market with potential resumption of upward movement should better volume returned to market.
When to buy : buy at support or weakness with quick cut loss and profit target.
When to sell : sell at resistant or strength with quick cut loss and profit target.
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