Bollinger band reading : upside biased.
MACD Histrogram : resumed higher, buyer adding position.
Support : 3150, 3100, 3070 level.
Resistant : 3200, 3270, 3300 level.
Comment :
FCPO rallied higher closed registered huge gains at 2 year high in supportive higher volume changed hand as US Fed move weakens the US Dollar triggered all major commodities futures price to fly high including soy oil and crude oil. Daily chart formed a wide range up bar candle penetrated the upper Bollinger band resistant level thus pushing the band width started to turn outward with the reading call for a upside biased market and a possible small pullback correction before reaching higher.
Other factor to watch will be the soon to be release news on US non farm payroll and unemployment data on the 5th of Nov that normally having some impact on US Dollar movement to a certain extend.
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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