Bollinger band reading : bearish.
MACD Histrogram : lower, seller in charge.
Support : 2440, 2400, 2370 level.
Resistant : 2470, 2521, middle Bollinger band level.
Comment :
FCPO continue to trade weaker in the 2nd half session with heavier volume ended the day near the low. Despite positive export data released in the afternoon by SGS, the stronger US Dollar contributed to the fall of all commodities prices seems to have a deeper impact to the crude palm oil player. Technically, the daily chart does look biased to a further downside market as all indicators on the chart agreed to each other views 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/strength/break down with quick cut loss and profit target.
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