Bollinger band reading : upside biased.
MACD Histrogram : weakening, buyer taking profit.
Support : 2550, 2520, 2500 level.
Resistant : 2570, 2600, 2620 level.
Comment :
Stronger Ringgit damper FCPO upward momentum and ended marginally lower for lunch in thin trading volume despite a stronger overnight soy oil and crude oil futures price. Hourly chart shows market opened and tested slightly higher but selling pressure come into market pressed price lower near support level before recover up off the low. Hourly reading remained suggesting a upside biased market development.
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