Bollinger band reading : upside biased.
MACD Histrogram : resume upward, buyer expand operation.
Support : 2570, 2550, 2520 level.
Resistant : 2600, 2620, 2650 level.
Comment :
FCPO recorded gain again after crude oil and soy oil futures price continue to trade higher after last friday rally with better volume transacted. Daily chart shows that market opened higher after export data release shows improvement and continue testing higher resistant level and closed right at it that turned into support level. Reading suggesting a upside bias potential market testing resistant near upper Bollinger band for the near term.
When to buy : buy at support/weakness/breakout 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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