Bollinger band reading : sideway bearish biased.
MACD Histrogram : getting higher slowly.
Support : 2470, 2440, 2400,
Resistant : 2500, 2521 level.
Comment :
FCPO recovered partially in the morning session after export cargo surveyor ITS reported a 20% improvement in crude palm oil export for the period of 1~25 Jan 2010 compare to the same period last month. Hourly chart suggesting that FCPO is likely to trade side way rangebound upside biased recovery stage but the upside room could be limited to the immdiate resistant levels unless there is a big suprise export data release by SGS export cargo surveyor on the second half session.
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