Bollinger band reading : correction range bound upside biased.
MACD Histrogram : weakening, buyer taking profit continue.
Support : 2900, 2850, 2800 level.
Resistant : 2970, 3020, 3050 level.
Comment :
FCPO recovered upward recorded slightly gain in lower volume transacted after market having mixed sentiment as the released export data registered slower demand and on the other hand a hit new high soy oil futures price. Daily chart formed a 33 points small range doji bar candle with the reading suggesting 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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