Bollinger band reading : correction range bound downside biased.
MACD Histrogram : turned upward, seller take profit.
Support : 2520, 2500, 2470 level.
Resistant : 2550, 2570, 2600 level.
Comment :
Recovering soy oil and crude oil futures prices plus Indonesia imposed a higher export tax on crude palm oil lead FCPO to closed at the high of the day gained 44 points in lesser volume traded. Daily chart formed a wide range up bar candle after market opened higher and climb upward but overall the reading still suggesting a downside biased with correction taking place market development.
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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