29/7/2010 : FCPO; 2927. Formed a 'falling wedge'. Bearish  as long price in the falling wedge. Bullish if break up out of wedge. Very bearish if break down. Meantime last friday's movement has  formed a 'reversal divergence'. 

10/5/2012 ; 3349 ; SIDEWAY ; closed up 6 points with no clear direction whatsoever. Formed a reshaped pennant from yesterday's pattern. Sideways if price is within pennant, bullish if break up, bearish if break down.

9/5/2012 ; 3335 ; BEARISH STILL - FCPO  unable to continue bullish momentum even though break up from the bullish flag. Instead it formed a pennant and it broke down before closing today due to weakness in  fundamentals and commodities.

1/5/2012 ; 3471 ; SIDEWAY STILL

FCPO is in sideway mode confirming the formation of a 'pennant' from a 'bearsh flag' earlier. It will stay sideways until it breaks out. If it breaks out above it's bullish. If it breaks out below it's bearish.

30/4/2012 ; 15min chart ; stopped out at 3495.

25/4/2012; 60 min chart; 3511 -BULLISH

Bullish? yes - but not out of the woods yet until market closes above 3523. FCPO broke out above the 'falling wedge' near closing today and closed at the highs of the day. Still lower than monday's high of 3523 which until then, market may not confirm yet that its bullish ( correction over ). It's now within the 'bearish flag' and as long it's within it, it is bullish. If breakdown, it is bearish. If break up, it is strong.

24/4/2012 ; 60min chart ; 3463 ; SIDEWAY

Nothing much I can do for now. Since I was stopped out, I'm staying aside for the moment until clearer directions are given. I am not even sure which formation the market is going to follow, the 'falling wedge or the 'bearish flag'.