Crude palm oil futures closed marginally lower down 5 points at 2521 with lower volume traded compare to yesterday. At closed, price holding on above the middle Bollinger band with the band width keeps narrowing = market correction still taking place. MACD Histrogram turned lower below the zero line = seems like seller still controlled the market. Immediate support level defence at the middle Bollinger band. Overall the correction could continue but near support level with possible resumption of upward movment in the uptrend market and should the support level break, market sentiment could turned negative.
When to buy : buy at support/weakness/break up with larger cut loss and profit target.
When to sell : sell at resistant or strength with quick cut loss and profit target.
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