Bollinger band reading : correction range bound upside biased.
MACD Histrogram : weakenning, buyer reducing exposure.
Support : 2670, 2650, 2620 level.
Resistant : 2700, 2720, 2750 level.
Comment :
Dissapointing export data released lead FCPO to retrace lower in higher volume transaction and in the same time soy oil futures price also having downward correction. Daily chart shows market opened and tested little higher followed by selling pressure kicked start push price to dive all the way down to closed at the low formed and wide range down bar candle. Reading wise, market still having correction range bound upside biased market development testing lower support level.
When to buy : buy at support or weakness with quick cut loss and profit target.
When to sell : sell at resistant or strength with quick cut loss and profit target.
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