FCPO closed : 2550 changed : -30 points, volume : Lower.
Bollinger band reading : turned negative.
MACD Histrogram : continue lower, seller in control.
Support : 2550, 2500 level.
Resistant : 2570, middle Bollinger band level.
Comment :
Correction continue to took place in FCPO that ended the day with a doji bar candle with lower volume transacted. Weaker crude oil, soy oil, stronger US Dollar and expectation of higher soy oil production in key southern America region and palm oil production news also contributed to the accelerating negative sentiment towards FCPO. Expect the downward correction to continue with side way range bound downside biased market in the near term. Tricky trading days ahead.
When to buy : buy at support or weakness with quick cut loss and profit target.
When to sell : sell at resistant or strength with quick cut loss and profit target.
No comments:
Post a Comment