Bollinger band reading : correction range bound little upside biased.
MACD Histrogram : turned lower, buyer retreat as seller getting aggressive.
Support : 2600, 2570, 2550 level.
Resistant : 2620, 2650, 2670 level.
Comment :
FCPO continue to correct downward to closed lower with improved trading volume traded following a weaker soy oil futures price plus slower demand anticipation. Daily chart opened and tested little higher followed by buyer closing position and present of seller program selling activities pressed price tested below middle Bollinger band support level and bounced off to closed just above it. Reading wise, market continue to have downward correction with the upside biased getting little weak.
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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