Bollinger band reading : side way range bound little upside biased.
MACD Histrogram : weakening, not much action from both buyer and seller.
Support : 2470, 2450, 2400 level.
Resistant : 2500, 2521, 2550 level.
Comment :
Not much excitement happening on FCPO that ended the first session flat although CME palm oil futures market kicked start yesterday. Hourly chart reading suggesting a side way range bound market with little upside biased potential. On the other hand ITS cargo surveyor announced export figure up 8.6% to 1,028,533 tonnes for the period 1 ~ 25 May 2010.
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