Bollinger band reading : downside biased.
MACD Histrogram : getting lower, seller getting encouragement to stay put.
Support : 2520, 2500, 2470 level.
Resistant : 2550, 2570, 2600 level.
Comment :
Overnight soy oil futures price fall lead FCPO to opened and traded lower breaking 2 support levels in high transaction volume. Hourly chart shows market opened and moving along lower Bollinger band testing lower support level with the outlook having downside biased reading with possible pullback correction.
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