Bollinger band reading : side way range bound little upside biased.
MACD Histrogram : getting lower, buyer reduce exposure.
Support : 2521, 2500, 2470 level.
Resistant : 2550, 2570, 2600 level.
Comment :
Quiet volume no follow through after yesterday price surged FCPO traded lower following a weaker soy oil futures price development. Hourly chart shows that demand was not strong enough to sustain the upward movement as price is likely to trade side way rang bound with still some upside biased.
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