Bollinger band reading : upside biased.
MACD Histrogram : turned lower, buyer taking profit.
Support : 2900, 2850, 2800 level.
Resistant : 2970, 3020, 3050 level.
Comment :
Firmer soy oil and crude oil futures prices lead FCPO to open and traded higher breaking higher ground promoted buyer to realising their huge profit sell down the market to lower ground to record small decline in higher volume transaction. Daily chart formed a down bar doji bar candle pulling back from the upper Bollinger and with the reading call for a correction range bound upside biased market development.
When to buy : buy at support and 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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