Bollinger band reading : pullback correction downside biased.
MACD Histogram : falling, seller in control.
Support : 3070, 3050, 3020, 2970 level.
Resistance : 3100, 3150, 3200, 3250 level.
Comment :
FCPO closed pullback upward slightly with slower volume transacted. Soy oil price currently also correcting upward after overnight closed weaker by nearly 2% while crude oil price trading side ways.
Price closed recovered slightly after recent steep dive on profit taking but traders remained cautions monitoring closing Greece development.
Technical chart reading revised back to suggesting a pullback correction downside 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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