Bollinger band reading : side way range bound.
MACD Histrogram : rising, buyer testing market with some seller short covering.
Support : 2550, 2520, 2500 level.
Resistant : 2570, 2600, 2620 level.
Comment :
Higher crude oil price plus a rebounding soy oil futures price lead FCPO to opened and surge higher to closed the first session above resistant level in tight 20 points range slower volume changed hand. Hourly chart shows, price opened and stayed above middle Bollinger band level with the reading call for a side way range bound market development.
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