Bollinger band reading : correction range bound upside biased.
MACD Histrogram : getting weaker, buyer taking profit.
Support : 3350, 3300, 3270 level.
Resistant : 3420, 3450, 3470 level.
Comment :
Wild swing 104 points range market FCPO opened and tested lower but managed to recover upward to closed recorded minor gain with lower volume traded despite a weakening soy oil prices as export data release showing improved demand plus fear of flood factor. Daily chart formed the 4th doji up bar candle with wider body still traded between the upper and middle Bollinger bands with the reading suggesting a correction range bound upside biased market reading.
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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