FCPO closed : 2466, changed : -4 points, volume : lower.
Bollinger band reading : pullback correction downside biased.
MACD Histogram : rising higher, buyer testing market.
Support : 2450, 2400, 2350, 2300 level.
Resistance : 2490, 2520, 2550, 2570 level.
FCPO closed recorded marginal loss with lesser volume changed hand. Soy oil currently registering gains after overnight closed lower by more than 1% while crude oil price currently trading little higher after yesterday advance.
Price traded higher during morning session and reserved downward after lunch break as traders awaits industry outlook by 3 key experts(Please refer to palm oil update posting below).
Chart wise, FCPO is still trading within a pullback correction downside biased market development testing resistance near middle Bollinger band level.
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.