Bollinger band reading : correction range bound upside biased.
MACD Histrogram : weakening, buyer reducing exposure.
Support : 3300, 3270, 3200 level.
Resistant : 3350, 3420, 3450 level.
Comment :
Extra ordinary 211 points range market FCPO opened gap down severely, tested lower support levels and followed by bargain hunting activities lifted price upward to closed the day recorded gain with ultra high volume transacted as soy oil and crude oil also rebounded strongly recording gain as US Dollar turned weaker again. Daily chart formed a doji up bar candle bouncing off upward after tested below middle Bollinger band level with the reading still suggesting a correction range bound upside biased market 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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