Bollinger band reading : downside biased.
MACD Histrogram : continue lower, seller ruled.
Support : 2400, 2370, 2350 level.
Resistant : 2450, 2470, 2500 level.
Comment :
FCPO ended marginally lower in discouraging half volume transaction despite a positive export data released by 2 cargo surveyor. Daily chart shows that market tested below the crucial support level but failed to breached through the strong buyer defense line and the reading continue to suggest a downside biased market with possible pullback correction as lower shadow appeared on the last 2 daily candle bar.
When to buy : buy at support or weakness with quick cut loss and profit target.
When to sell : sell at resistant/strength/break down with quick cut loss and profit target.
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