Bollinger band reading : correction range bound upside biased.
MACD Histrogram : weakening, buyer taking profit.
Support : 3650, 3620, 3550 level.
Resistance : 3700, 3720, 3750 level.
Comment :
Profit taking FCPO continue to retrace lower with slower volume changed hand after hitting 33 month high yesterday as today export data released continue to decline lower while soy oil and crude oil futures price also eased lower.
Daily chart formed a classic down doji bar candle after market tested resistance and support level and recovered to closed near opening price with a correction range bound upside biased market reading 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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