Bollinger band reading : bullish but possible correction.
MACD Histrogram : rising, buyer add position.
Support : 2670, 2650, 2620 level.
Resistant : 2700, 2730, 2750 level.
Comment :
FCPO continue to trade higher with better volume ahead of the palm oil conference next week despite weaker soy oil futures price. Chart wise remain bullish biased with possible correction downward as price once traded way above the upper Bollinger band triggered an overbought condition. Expect market to go side way range bound with some test of support before resume it up trend movement in the second session.
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