Bollinger band reading : side way range bound.
MACD Histrogram : recovering, both buyer and seller still battling.
Support : 2570, 2550, 2520 level.
Resistant : 2600, 2620, 2650 level.
Comment :
FCPO recorded gain with lesser volume traded following the steps of recovering soy oil and crude oil futures price by opened gap up and surged higher. Daily chart shows that price managed to break and stayed above middle Bollinger band resistant level with the reading suggesting a side way range bound market development.
When to buy : buy at support or weakness with quick cut loss and profit target.
When to sell : sell at resistant or strength with quick cut loss and profit target.
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