FCPO last looked : 3084, changed : -38 points, volume : lower.
Bollinger band reading : side way range bound little upside biased.
MACD Histogram : turned downward, buyer seller battling
Support : 3100, 3070, 3050, 3020, 2970 level.
Resistance : 3100, 3150, 3200, 3250, 3270 level.
Comment :
FCPO trading lower with lesser volume distributed. Soy oil currently retreating lower after overnight closed recorded more than 1.5% gains while crude oil price currently trading firmer after last night surge.
Another weaker export data released today by SGS cargo surveyor pressured price downward however losses capped due to U.S. dry weather factor that supporting soy oil price.
Daily technical chart reading revised to suggesting a side way range bound little upside biased market development (base on last looked).
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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