Up 34 points to closed at 2620 with lower volume transacted, FCPO ended today firmer at above upper Bollinger band with the band width started to expand = bullish, uptrend market still intact after nearly a week of correction. MACD Histrogram continue to improve = buyer activities dominate the market today. With the 2606 resistant level broken, the next immediate target/resistant should rest a 2651 level. Despite this bullish chart formation, trader will need to monitor closly the development of China Dalian palm oil market, soy oil, crude oil and also US dollar movement.
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