Bollinger band reading : upside biased with potential correction.
MACD Histrogram : rising higher, buyer patrolling.
Support : 3350, 3300, 3270 level.
Resistant : 3420, 3450, 3470, 3500 level.
Comment :
Continuous hit new high for the 5th day FCPO closed marginally higher with ultra high volume traded after market hit new high and face selling pressure as buyer decided to lock in profit leaded price to closed off the high as crude oil and soy oil traded firmer. Daily chart formed a shooting star doji bar candle followed by yesterday hanging man doji bar candle hinted a potential market reversal for a substantial pullback correction to take place soon with an overall upside biased market reading development.
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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