Bollinger band reading : upside biased with potential correction.
MACD Histrogram : turn downward, buyer taking profit.
Support : 3550, 3500, 3470 level.
Resistant : 3620, 3650, 3700 level.
Comment :
Hit 29 month high FCPO closed recorded minor gain with lower volume changed hand ahead of tomorrow export data and MPOB Nov 2010 official report.
Depsite recorded gain, daily chart formed a down bar candle near upper Bollinger band level after market opened gap up near the high of the day followed by profit taking activities pressed price to closed near the low with the reading remained 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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