Bollinger band reading : downside biased.
MACD Histrogram : reversed upward, seller take profit.
Support : 2350, 2330, 2300 level.
Resistant : 2370, 2400, 2450 level.
Comment :
Continue drop in soy oil and crude oil price plus a less exciting crude palm oil export data lead FCPO to opened and traded weakly followed by profit taking activities lifted price to recovered mostly closing only slightly lower in mild volume changed hand. Hourly chart reading shows a downside biased market with pullback correction taking place after price opened and traded way below lower Bollinger band.
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