Bollinger band reading : side way range bound little upside biased.
MACD Histrogram : getting lower, buyer lock in profit.
Support : 2700, 2670, 2650 level.
Resistant : 2720, 2750, 2770 level.
Comment :
Over the weekend soy oil futures price rallied lead FCPO to opened higher but a lower export data released by ITS(-7.4%) triggered buyer to secure profit pressed price lower to closed off the high but still recorded gain. Hourly chart wise, market is currently having correction range bound little upside biased development after opened above upper Bollinger band.
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