Crude palm oil futures gap up this morning but failed sustain the upward movement and unable to established a direction for itself ended the day with a doji bar candle to closed at 2197, 19 points higher. Market manage to test above the 2200 psychology level but failed to hold on after facing some selling pressure toward near the end just before closing. But in terms of chart wise, FCPO do look better by closing above the mid Bollinger Band indicates that underlying demand for FCPO remain firm. Bollinger Band width also turned from narrowing into expanding after this morning gap up. MACD Histrogram continue to rise suggest that buyer has yet to leave FCPO alone.
When to Buy : Buy on dip or break up with larger cut loss and profit targer.
When to Sell : Sell only when price break below mid Bollinger Band with small cut loss and profit.
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