Bollinger band reading : pullback correction little upside biased.
MACD Histogram : weakening, buyer leaving as seller testing market.
Support : 2920, 2900, 2850, 2800 level.
Resistance : 2950, 2970, 3020, 3050 level.
FCPO closed recorded loss for the 3rd day with better volume participation. Soy oil currently trading lower after over closed recorded small loss while crude oil price currently recording 1% gains.
Price continue to head south on rising stockpile worries after industry expert suspect that Indonesia inventory level may be much higher than estimated.
Daily chart reading adjusted to suggesting a pullback correction little 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.