Bollinger band reading : correction range bound, upside biased.
MACD Histrogram : weakening, buyer taking profit reducing exposure.
Support : 2570, 2550, 2520 level.
Resistant : 2600, 2620, 2650 level.
Comment :
FCPO eased lower traded in tight 16 points range ultra low volume transactions following soy oil and crude oil futures price that reversed lower after hitting overnight high and following the news about China closed major port for oil and other commodities after pipeline blast spilled oil into sea. Hourly chart shows market opened lower, trying hard to test higher ground but buying interest seems lacking resulted price to closed little lower. Outlook wise, market still supported at the middle Bollinger band level and suggesting a side way range bound little upside biased market.
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