Crude palm oil trade 8 points lower to closed at 2162. Seems like a cut loss day for medium term long position trader. Price still trading below mid Bollinger band = market is still favour a downside movement. Bollinger band width also keeping its expansion pace = there still room for market to move lower. MACD Histrogram stay nearly flat over the last 4 bars = selling activity has yet to turned aggressive thus it is important to monitor the MACD Histrogram movement for any potential downward movement or a possible pullback.
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