Bollinger band reading : range bound downside biased.
MACD Histrogram : reversed upward, seller lock in profit.
Support : 2370, 2350, 2330 level.
Resistant : 2400, 2450, 2470 level.
Comment :
Lesser volume FCPO made a correction today as seller book in profits and a continue firmer soy oil futures price development. Daily chart shows that price recovered all yesterday losses and managed to test above resistant level closing just 2 points below it with the reading suggesting a continue correction downside biased market.
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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