Bollinger band reading : neutral, side way.
MACD Histrogram : rising above zero level, short covering.
Support : 2400, 2370, 2330 level.
Resistant : 2440, 2470, 2500 level.
Comment :
FCPO opened and traded lower followed by profit taking and short covering pushed price ended higher with low volume transaction. Sudden drop in US Dollar leads most commodities to trade higher including soy and crude oil futures. Hourly chart reading suggesting a side way range bound market with still a little downside biased. But on the other hand, there is a possible positive divergence forming on the price and MACD indicator.
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