Bollinger band reading : upside biased.
MACD Histrogram : rising, buyer in control.
Support : 3800, 3770, 3750 level.
Resistance : 3870, 3920, 4000 level.
Comment :
Bullish FCPO closed the day recorded gain with lesser volume transacted while both export cargo surveyor released a lower export data for the entire month of December 2010 (ITS down 15% / SGS down 19.7%) as bad weather factor still having bigger influence over demand concern.
Daily chart formed a doji bar candle position right at the upper Bollinger band level with the bandwidth continue to expand outwards suggesting a further upside biased potential market development.
When to buy : buy at support, weakness or 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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