Bollinger band reading : downside biased.
MACD Histrogram : falling, buyer closing position.
Support : 2400, 2370, 2350 level.
Resistant : 2450, 2470, 2500 level.
Comment :
FCPO continue to retrace lower in moderate volume traded following overnight correction soy oil futures prices.
Hourly chart wise, market opened gap lower and continue head south tested and break below 2 support levels and reached the lower Bollinger band level for lunch break. Reading recorded a downside biased market development for the near term testing lower support level.
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