Bollinger band reading : correction range bound upside biased.
MACD Histrogram : turned lower, buyer realising profit.
Support : 3050, 3020, 3000 level.
Resistant : 3070, 3100, 3150 level.
Comment :
FCPO retreats lower recorded decline in lesser volume changed hand in tandem with lower soy oil futures price development as US Dollar rebounding after hitting 15 years low triggered buyer in lock in partial profit.
Daily chart formed a down bar candle pulling back from the 2 year highs with the reading turned into suggesting a correction range bound upside biased market possibly closing the gap near 3020 level testing lower support levels.
When to buy : buy at support and weakness with quick cut loss and profit target.
When to sell : sell at resistant or strength with quick cut loss and profit target.
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