Bollinger band reading : bearish.
MACD Histrogram : continue to recover, some short covering.
Support : , 2440, 2400 level.
Resistant : 2500, 2521 level.
Comment :
FCPO traded marginally higher with low volume changed despite a better export figure released by both export cargo surveyor. Trade mostly range bound through the day with some testing activited took place at near resistant and support level. Technically, the daily chart still biased to a downside market despite MACD Histrogram reading improve slightly but still remained under the negative territory. Fundamental wise, good news release but ended with a doji bar candle may suggest that the underlying market could still be weak.
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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