Bollinger band reading : pullback correction upside biased.
MACD Histrogram : weakenning, buyer taking profit.
Support : 3350, 3300, 3270, 3250 level.
Resistance : 3420, 3450, 3470, 3500 level.
Comment :
FCPO closed recorded loss with increasing volume transacted. Soy oil price currently trading weaker after last Friday closed little lower while crude oil price currently sliding lower.
Price fall lower as traders continue to book profit while awaits tomorrow export data.
Daily chart form down bar candle with technical reading remained 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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