Monday, June 21, 2010

20100621 1253 FCPO Mid Day Hourly Chart Study.

FCPO closed : 2405, changed : +5 points, volume : moderate.
Bollinger band reading : upside biased.
MACD Histrogram : weakening, seller continue to take profit.
Support : 2400, 2370, 2350 level.
Resistant : 2450, 2470, 2500 level.
Comment :
Improved export data figure plus China's yuan revalue news seems doesn't kick FCPO to move much that closed the morning session up marginally higher in better volume traded. Hourly chart shows an improving volume upside biased market reading after opened higher and seems well supported at 2400 resistant turned support level.

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