Bollinger band reading : side way range bound.
MACD Histrogram : rise above zero line, buyer see some encouragement.
Support : 2500, 2470, 2440 level.
Resistant : 2521, 2550, 2590 level.
Comment :
Bursa Malaysia crude palm oil futures closed near the high and right at the resistant level after market open gap down and traded one way ticket higher. Despite the two day wide body up bar candle, FCPO daily chart reading has yet to turn bullish and is likely to trade side way range bound with some testing effort at the support and resistant level.
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.
No comments:
Post a Comment