Bollinger band reading : upside biased.
MACD Histrogram : getting higher, buyer regained power.
Support : 2770, 2750, 2720 level.
Resistant : 2800, 2850, 2900 level.
Comment :
Breaking new high FCPO surged upward sharply recorded gain for the 3rd day with increasing volume transacted breaking 2 levels of resistant after soy oil and crude oil futures price continue to trade higher. Daily chart formed a wide range bar candle closed little above upper Bollinger band level with the reading turned into suggesting a upside biased market development testing higher resistant level but having said that market can also having some pull back for a correction.
When to buy : buy at support/weakness/break up 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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