Bollinger band reading : correction range bound downside biased.
MACD Histrogram : getting lower, seller taking exposure
Support : 2550, 2520, 2500 level.
Resistant : 2570, 2600, 2620 level.
Comment :
FCPO lifted up slightly in high volume transaction changed hand following soy oil futures price development that is currently rebounding upward. Hourly chart shows market is having pullback correction after price touched the lower Bollinger band with the reading suggesting a range bound correction downside biased market development testing higher resistant level.
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