FCPO closed : 3250, changed : -18 points, volume : lower.
Bollinger band reading : pullback correction upside biased.
MACD Histrogram : turned downward, buyer taking profit.
Support : 3250, 3200, 3150, 3100 level.
Resistance : 3270, 3300, 3350, 3420 level.
Comment :
FCPO closed recorded small loss with sligthly lower volume participation. Soy oil price currently trading weaker after overnight closed rallied higher while crude oil price pulling back lower after recent rally.
Profit taking activities pressed FCPO and broad commodities price to correct lower after recent advances.
Daily chart reading suggesting a pullback correction upside biased market development.
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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