Trading Idea- FCPO FCPO: Signs of bottoming out In the wake of the strong rebound, FCPO hourly and daily indicators are on the mend, as the index is now recapturing above the resistances of 200-h SMA and 30-d/50-d/100-d SMAs. A decisive breakout above the key 200-d SMA near RM2375 will spur prices higher towards RM2400-2420 zones. On the flipside, a breakdown below the 200-h SMA near RM2337 will trigger further downward pressures towards RM2321 (50-d SMA), RM2313 (10-w SMA), RM2300 and RM2270 (38.2% FR).
Posted on: Thu, 19 Sep 2013 03:09:26 +0000
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