Bollinger band reading : upside biased with possible correction.
MACD Histrogram : rising higher, buyer still rule.
Support : 3270, 3200, 3150 level.
Resistant : 3300, 3350, 3420 level.
Comment :
FCPO rallied for the second day recorded huge gain in slightly lower volume traded after market opened gap up and tested higher ground followed by buyer decision to sealed in profit pressed price to closed off the high of the day. Daily chart formed a shooting star doji bar candle positioned way above upper Bollinger band level as the band width continue to expand outwards hinted a potential pullback correction within an upside biased market reading. Meanwhile, soy oil and crude oil futures price are currently trading lower as US Dollar rebounding higher.
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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