Bollinger band reading : side way range bound upside biased.
MACD Histrogram : resumed upward, buyer staying firmly.
Support : 2700, 2670, 2650 level.
Resistant : 2720, 2750, 2770 level.
Comment :
Improving export data and a surged in commodities prices especially soy oil futures lead FCPO to register huge gained today in slightly less but consider high volume transaction. Daily chart formed a doji bar candle after market tested higher resistant, triggered some buy stop order and followed by some profit taking selling activities pressed to closed off the high. Technical reading turned into a side way range bound upside biased market development testing support and resistant level.
When to buy : buy at support/weakness/break up with larger cut loss and profit target.
When to sell : sell at resistant or strength with quick cut loss and profit target.
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