Bollinger band reading : correction range bound upside biased.
MACD Histrogram : falling lower, buyer closing position as seller taking some position testing market.
Support : 3150, 3100, 3070 level.
Resistant : 3200, 3270, 3300 level.
Comment :
Slam Dunk! FCPO closed recorded huge losses down 4.27% with lower volume traded after opened gap down and dive deeper despite increased export data released most probably due to catching up with last Friday soy oil severe price fall and China move the hike higher bank reserve to control inflation. Daily chart formed a wide range down bar candle closed below middle Bollinger band support level with the reading remained suggesting a correction range bound upside biased market development testing support and resistant level.
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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