Bollinger band reading : side way range bound.
MACD Histrogram : recovering, seller covering position.
Support : 3720, 3700, 3650 level.
Resistance : 3750, 3800, 3850 level.
Comment :
FCPO closed recorded small gain with lower volume transacted after export data released showing a slow but improving figure while soy oil futures price traded little higher after yesterday drop.
Daily chart formed a doji up bar candle with longer upper shadow after market opened and tested lower support and reversed surging higher tested near resistant level followed by second session last hour sell down surrendered partial of the morning gain to closed off the high of the day right at the middle Bollinger band level. Reading remained suggesting a side way range bound market development testing support and resistant level.
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.
No comments:
Post a Comment