Bollinger band reading : downside biased with pullback correction.
MACD Histrogram : getting lower, seller lock in partial profit.
Support : 2300, 2270, 2250 level.
Resistant : 2330, 2350, 2370 level.
Comment :
Seller profit taking activities lead market to closed marginally higher in better volume traded following a rebound in soy oil and crude oil futures prices. Daily chart shows that market started to have a pullback correction within a downside biased market and looks like the correction could still continue in the near term.
When to buy : buy at support or weakness with quick cut loss and profit target.
When to sell : sell at resistant or strength with quick cut loss and profit target.
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