FCPO closed : 2919, changed : -18 points, volume : higher.
Bollinger band reading : correction range bound.
MACD Histogram : falling lower, seller taking exposure.
Support : 2900, 2850, 2800, 2770 level.
Resistance : 2920, 2950, 2970, 3020 level.
FCPO resumed falling lower with better volume changed hand. Soy oil currently trading side ways recording small loss after overnight closed little lower while crude oil price trading little higher.
Concern on slower global economy growth, high inventory sent crude palm oil price trading lower, however price recovered partly on firm crude oil price support as traders eying on Wednesday USDA grain crop data.
FCPO technical chart study revised to suggesting a correction range bound 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.