Soy oil future trading up 0.33 at this moment. Tomorrow might be an interesting day for FCPO !
FCPO traded @ 2062, up by 20 points to closed below Mid Bollinger Band = Bearish/down trend still intact. Bollinger Band width continue to widen suggest that there is still room for market to drop further. MACD histrogram has stop getting lower = Market may need a rest or consolidate. Today long lower tail doji candle with high volume traded also signaled that market will consolidate or pullback.
When to Buy : Buy at break up with quick profit/ cut loss.
When to Sell : Short at resistant with large profit/ cut loss.
FKLI closed the day marginally higher @ 1217.5 with an upper tail candle. With price traded above Mid Bollinger Band, market is still bias to the upside. Bollinger Band width continue to widen suggest that there are still room for market to go up further. MACD histrogram rise for the 2nd day buy still within the negative territory signaling the upward movement still lack of strength. With the upper tail candle, market might need to take a rest before moving on. In order for market to move higher, a break thru the positive territory on the MACD histrogram will be critical.
When to buy : Buy on pullback but must take quick profit/cut loss.
When to sell : Sell on resistant but must take quick profit/cut loss.
See money take money !
FKLI still standing strong on the upperside with price closed above Mid Bollinger Band = Bullish/uptrend still intact. Bollinger Band width continue to widen suggest that there are still room for market to go up further. MACD histrogram looks toppish with the last one showing sign of weakening = Market might need some rest after a climb. With 2 topping tails on the chart, market may need some rest.
FCPO ended 19 points lower in the first session with higher volume after gaping up during opening. Hourly chart wise still look bearish with price closed below Mid Bollinger Band = Bearish/down trend still intact. Bollinger Band width continue to widen suggest that there are still room for market to fall more. MACD histrogram lower on smaller scale = Market still bias to downside. With such an encouraging volume traded, let hope that more action will take place on the afternoon session. PS: Watch the 2000 physhocology support level for pull back.
Soy oil futures traded steadily around 33.90 level. Chart wise, price still trading below Mid Bollinger Band = Bias to bearish. This is also confirm by the expanding Bollinger Band width = More downside. Having said that, MACD histrogram edge up a little higher suggest that market has not yet ready for a sell down.
DJIA rebound from support level to closed higher @ 9599.75. Chart wise, the white range bar still ended below the Mid Bollinger Band = Bearish/merely a technical rebound. Bollinger Band width continue to narrowed in smaller scale suggest that side way range bound market in play. MACD histrogram recovered mildly = market will consolidate after a few days fall.
