Bollinger band reading : bearish.
MACD Histrogram : lower slightly, seller still in but locking in profit.
Support : 2450, 2400 level.
Resistant : 2521, middle Bollinger band level.
Comment :
Without the lead from soy oil futures that closed today, FCPO April 2010 contract opened lower followed by bargain hunting and profit taking activities pushed price upward to recovered most of the losses to end marginally lower today. Technically, the daily chart still recorded a bearish reading but today's long body up candle shows some little strength of the underlying market that may not ready for more further downside market yet in the near term.
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.
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