20100222 1248 FCPO Mid Day Hourly Chart Study.

FCPO closed : 2626, changed : +30 points, volume : low.
Bollinger band reading : upside biased.
MACD Histrogram : reversed and climb higher, buyer in charge still.
Support : 2620, 2590, 2570 level.
Resistant : 2650, 2670, 2700 level.
Comment :
Firmer soy oil futures price lead FCPO to opened and trade higher for the morning session despite weaker export data release by ITS export cargo surveyor. Technical hourly chart reading suggest that market is likely to trade side way range bound upside biased as 2620 level still supported well.