Bollinger band reading : correction downside biased.
MACD Histrogram : reversed upward, seller profit taking.
Support : 2270, 2250, 2230 level.
Resistant : 2300, 2330, 2350 level.
Comment :
Tracking improved soy oil futures price FCPO ended the day higher recovering most of yesterday losses in better volume traded. Daily chart shows that pullback correction take place today after yesterday over extended dropped with still a downside biased reading.
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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