Bollinger band reading : correction range bound upside biased.
MACD Histrogram : weakening, buyer taking profit.
Support : 3070, 3050, 3020 level.
Resistant : 3100, 3150, 3200 level.
Comment :
Break new high FCPO recorded gained today recovered all last 2 days losses with improving volume changed hand due weaker US Dollar and a resume higher soy oil futures price. Daily chart formed a up bar candle within narrowing Bollinger band width with the reading remained suggesting a correction range bound upside biased market testing support and resistant level.
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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