Bollinger band reading : side way range bound little downside biased.
MACD Histrogram : weakening, seller testing market strength.
Support : 2520, 2500, 2470 level.
Resistant : 2550, 2570, 2600 level.
Comment :
Lower overnight soy oil futures price plus a stronger Ringgit lead FCPO to end the first session declined lower in high volume traded after testing near support and resistant level. Hourly chart shows price traded along and below middle Bollinger band with the band width getting narrowing suggesting a side way range bound little downside biased market development.
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