Bollinger band reading : upside biased.
MACD Histrogram : getting higher, buyer still defending.
Support : 2450, 2400, 2370 level.
Resistant : 2470, 2500, 2520 level.
Comment :
No kidding FCPO recorded 8th continuous gain in lower volume traded despite soy oil and crude oil futures price having downward corrections. Daily chart shows market reacted to soy oil and crude oil development by opened lower buy buyer persisted to maintain and push price higher during last few minuted before closing.
Outlook still suggesting a upside biased market reading.
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.
1 comment:
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