Bollinger band reading : upside biased.
MACD Histrogram : rising, buyer dominated market.
Support : 2550, 2520, 2500 level.
Resistant : 2570, 2600, 2620 level.
Comment :
Over the weekend strong rally on soy oil and crude oil futures price due to a continue weaker US Dollar plus improved higher export data leaded FCPO to opened and traded higher in moderate volume transaction within a 17 points tight range market. Hourly chart wise, price hovering around the upper Bollinger band level with possible triggering a pullback correction. Overall the outlook still having a upside biased market reading for the near term.
ITS export up 4.41%
SGS export up 4.7 %
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