Bollinger band reading : upside biased with possible correction.
MACD Histrogram : rising higher, buyer expanding dominance.
Support : 3350, 3300, 3270 level.
Resistant : 3420, 3470, 3500 level.
Comment :
Break new high FCPO rallied closed recorded substabtial gain in slightly lower volume changed hand after market opened gap up, surged and closed near the high of the day ahead of tomorrow MPOB official Oct 2010 data and 1~10 Nov export figures. Daily chart formed an wide range up bar candle closed way above upper Bollinger band level with the reading suggesting a upside biased market with potential pullback correction. CBOT soy oil continue to trade firmer as US Dollar traded slightly weaker.
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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