Bollinger band reading : turned bullish.
MACD Histrogram : rising higher, .
Support : 2470, 2430, 2400 level.
Resistant : 2500, 2521 level.
Comment :
FCPO trade higher through out the first session with better volume changed hand in unison with soy oil futures price that closed higher overnight. A very interesting development taking place on the FCPO hourly chart reading that turned bullish today with an inverted head and shoulder pattern break up and also MACD positive divergence compare to price. Expect market to trade higher with some test attemp to break the crucial 2500 resistant level.
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