Bollinger band reading : pullback correction downside biased.
MACD Histogram : rising, seller taking profit and reduce position.
Support : 2920, 2900, 2850, 2800 level.
Resistance : 2950, 2970, 3020, 3050 level.
Comment :
FCPO closed firmer with increasing volume changed hand. Soy oil price currently trading firmer after overnight closed higher while crude oil price trading little lower moving side way.
Price traded higher after U.S. giving dry weather outlook will damage soybean crop and a anticipation of better demand ahead of tomorrow export data.
Daily chart study remained recommending 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.
No comments:
Post a Comment