FCPO closed : 3486, changed : +74 points, volume : lower.
Bollinger band reading : upside biased.
MACD Histrogram : rising, buyer taking exposure.
Support : 3470, 3450, 3420, level.
Resistant : 3500, 3550, 3620 level.
Comment :
Weather concern triggered a new 28 months high FCPO rallied recorded substantial gain with lower volume transacted on the first day of 6th Indonesia palm oil conference as soy oil and crude oil also traded firmer. Daily chart formed an up bar candle surged and closed near upper Bollinger band level with the reading remained suggesting an 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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