Bollinger band reading : correction range bound upside biased.
MACD Histrogram : weakening, buyer taking profit.
Support : 2850, 2800, 2770 level.
Resistant : 2900, 2970, 3020, 3050 level.
Comment :
FCPO traded weaker recorded drop with higher volume changed hand after most commodities and equity market corrected lower after Mr. Ben Benanke statement triggered a US Dollar rebound. Daily chart formed another doji bar candle corrected downward from the high with the reading suggesting a correction range bound upside biased market testing lower support levels.
When to buy : buy at support and 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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