Bollinger band reading : bullish.
MACD Histrogram : higher, buyer holding on.
Support : 2570, 2550, 2521 level.
Resistant : 2590, 2620, 2560 level.
Comment :
FCPO traded unchanged despite weaker soy oil futures price but volume transacted is just too low due to long holiday break. Daily chart wise, the reading still biased to a potential further upside market but the low volume participation remained questionable for the upward movement momentum to sustain. Expect market to trade side way range bound upside biased and hopefully higher volume will return after the long Chinese new year holidays.
When to buy : buy at support or weakness with quick cut loss and profit target.
When to sell : sell at resistant or strength with quick cut loss and profit target.
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