Bollinger band reading : correction range bound little upside biased.
MACD Histrogram : getting lower, seller taking exposure
Support : 2550, 2520, 2500 level.
Resistant : 2570, 2600, 2620 level.
Comment :
FCPO rebounded to closed little higher with improved volume traded after market opened higher and tested support and resistant level. Daily chart shows market form a doji bar candle with longer lower part shadow with the Bolliger band moving narrower suggesting market to trade side way range bound consolidating testing support and resistant level.
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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