FCPO closed : 2502, changed : -13 points, volume : low.
Bollinger band reading : bearish.
MACD Histrogram : turning upward slowly, partial short position profit taking.
Support : 2490, 2470 level.
Resistant : 2530, middle Bollinger band level.
Comment :
Low volume FCPO traded marginally lower due to weaker soy oil and Dalian crude palm oil futures price. With the MACD Histrogram forming a rounding up formation may suggest that FCPO to consolidate higher before continue with further downward movement can be seen. Overall a still a berish market with upward correction likely.
1 comment:
Agree. Even if one wants to short, get a higher price. Upward correction coming.
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