Bollinger band reading : correction range bound little downside biased.
MACD Histrogram : getting lower, seller increase exposure.
Support : 2520, 2500, 2470 level.
Resistant : 2550, 2570, 2600 level.
Comment :
Continue lower soy oil prices due to recovering US Dollar lead FCPO fall lower with increasing volume transaction traded ahead of export data announcement. Daily chart form a wide range down bar candle indicate seller getting aggressive with their program selling activities toward the 50% fibonacci retracement level. Outlook turned into a correction range bound little downside biased market reading.
When to buy : buy at support or weakness with quick cut loss and profit target.
When to sell : sell at resistant/strength/break down with quick cut loss and profit target.
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