FCPO closed : 2459, changed : +35 points, volume : lower.
Bollinger band reading : upside biased.
MACD Histrogram : resume rising, buyer continue to build position.
Support : 2450, 2400, 2370 level.
Resistant : 2470, 2500, 2520 level.
Comment :
After market come down for a rest, FCPO continue to seek higher ground recovered all yesterday drop in lesser volume transacted following a stronger soy oil and crude oil futures. Daily chart shows that market opened higher and tried to test lower support level but failed as buyer decided to keep buying lifted price to closed higher breaking resistant level. Outlook wise market remained upside biased.
When to buy : buy at support/weakness/break up with larger cut loss and profit target.
When to sell : sell at resistant or strength with quick cut loss and profit target.
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