20101210 1828 FCPO EOD Daily Chart Study.

FCPO closed : 3633, changed : +35 points, volume : higher.
Bollinger band reading : correction range bound upside biased.
MACD Histrogram : weakenning, buyer taking profit.
Support : 3620, 3550, 3500, 3470 level.
Resistant : 3650, 3700, 3720, 3750 level.
Comment :
FCPO closed recorded gain with better volume transacted ahead of tonight USDA data despite a weaker export data released while on the other hand MPOB Nov 2010 official data showing a lower output and stock levels rise concern on supply issue.
Daily chart formed an up bar candle after market opened lower and recovered upward to closed near the high with an unchanged reading suggesting a correction range bound upside biased market development.
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.