8/8/2012 ; FCPO 2864 ; Turned bearish. Breakdown from the falling wedge and back into the bigger bullish flag formation.The breakup from the falling wedge didn't materialize. Next support will be the critical 2840 level. If that is breached more bearish momentum is expected. Meanwhile the reversal divergence still persist which suggests that some upside correction is expected.
8/8/2012 ; FCPO 2907 ; SIDEWAY still. From a pennant now formed a falling wedge which has to breakout. If breakout upwards it's bullish. If breakout downwards it's bearish. Meanwhile in the 60min chart formed a reversal divergence.
Saturday, 4 August 2012
4/8/2012 ; 2918 ; Sideways still. Not much movement for the last 2 weeks. From a falling wedge, turned to a rising wedge. Now forming a pennant which is a confirmed sideway pattern until it breaks out. Bullish if break upwards and bearish if it breaks downwards.
Sunday, 29 July 2012
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'.
Thursday, 10 May 2012
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.
Wednesday, 9 May 2012
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.
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.
