FCPO closed : 2544, changed : -174 points, volume : higher.
Bollinger band reading : range bound little upside biased.
MACD Histrogram : reversed downward, buyer taking profit and reducing position.
Support : 2540, 2500, 2450 level.
Resistant : 2600, 2650, 2700 level.
Comment :
FCPO recorded huge dropped in higher volume transaction as market corrected strongly in tandem with falling soy oil futures price. Weekly chart formed and huge wide range down bar candle correction downward from above upper Bollinger band level with the reading suggesting a correction range bound little upside biased market development with possible testing lower support level near middle Bollinger band level.
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