Bollinger band reading : side way range bound.
MACD Histrogram : getting lower, seller testing market as buyer reducing exposure.
Support : 2700, 2670, 2650 level.
Resistant : 2720, 2750, 2770 level.
Comment :
FCPO eased lower in higher volume transaction in tandem with a retracing downward soy oil futures price plus a higher projection on 2011 crude palm oil production news. Hourly chart shows that market opened below middle Bollinger band support that now turned resistant level with the reading suggesting a side way range bound market testing lower support level.
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