Bollinger band reading : correction downside biased.
MACD Histrogram : reversed upward, seller profit taking.
Support : 2300, 2270, 2250 level.
Resistant : 2330, 2350, 2370 level.
Comment :
Continue correction FCPO traded firmer in increasing volume changed hand as soy oil and crude oil futures price rebounded. Daily chart wise, price once tested higher but lack upward momentum cause price closed near lower part resulting a long upper shadows doji bar candle hints that seller continue to book in partial profit. Reading still the same with and correction downside biased market outlook.
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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