Bollinger band reading : correction range bound upside biased.
MACD Histrogram : getting weaker, buyer realising profit.
Support : 2720, 2700, 2670 level.
Resistant : 2750, 2770, 2800 level.
Comment :
FCPO closed softer for lunch in thin volume transaction traded mostly in profit taking mood after yesterday gain.
Hourly chart shows that market opened lower and traded side way continuing yesterday pullback correction. Reading wise, market is likely to trade correction range bound testing lower support level near middle Bollinger band before resume upside biased.
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