Bollinger band reading : side way range bound little upside biased.
MACD Histrogram : falling lower, seller having small exposure.
Support : 3150, 3100, 3070 level.
Resistant : 3200, 3270, 3300 level.
Comment :
FCPO recovered recorded gain with slower volume traded ahead of ITS and SGS export data release as soy oil futures price rebounding plus Indonesia official announced Dec 2010 palm oil export tax will be increase to 15%. Daily chart formed a doji bar candle recovering upward heading to test middle Bollinger band resistant level with the reading remained side way range bound little 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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