Despite higher soy oil futures price, FCPO opened unchanged and headed south in the first session down 12 points to closed at 2552 with thin volume transacted. The last hourly candle bar closed near but above the middle Bollinger band with the band width started to turned inwards = the uptrend downward correction is likely to continue. MACD Histrogram also sliding lower into the negative zone = profit taking activities still taking place. Immediate support stands at the middle Bollinger band level and resistant rest at the upper Bollinger band level.
No comments:
Post a Comment