Bollinger band reading : correction range bound upside biased.
MACD Histrogram : getting weaker, buyer reducing exposure.
Support : 2720, 2700, 2670, 2650 level.
Resistant : 2750, 2770, 2800 level.
Comment :
FCPO recovered most of yesterday losses recorded gain in increasing volume transaction after both ITS and SGS export cargo surveyor released improved month to month export data. Daily chart shows that market still traded range bound within a narrowing Bollinger band indicates that market is still in consolidation mode with the reading suggesting a correction range bound upside biased market development.
When to buy : buy at support or weakness with larger cut loss and profit target.
When to sell : sell at resistant or strength with quick cut loss and profit target.
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