Bollinger band reading : upside biased.
MACD Histrogram : getting higher, buyer increase exposure.
Support : 2370, 2350, 2330 level.
Resistant : 2400, 2450, 2470 level.
Comment :
Firmer overnight crude oil and soy oil futures price lead FCPO to trade higher in light volume transaction.
Hourly chart shows that market opened and continue to seek higher ground breaking and stayed above 2370 resistant level. Outlook wise, market still registering an upside biased reading with possible pullback correction to take place soon.
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