Bollinger band reading : correction range bound upside biased.
MACD Histrogram : falling, buyer closing position as seller testing market.
Support : 3500, 3470, 3450 level.
Resistance : 3550, 3620, 3650 level.
Comment :
FCPO managed to closed in positive zone recorded small gain with better volume transacted despite export data released today shows that demand is still lacking while soy oil futures price rebounding little higher.
Daily chart formed a doji bar candle within last Friday wide range down bar candle as price seems supported near middle Bollinger band level with the reading remained suggesting a correction range bound upside biased market development with potential rebound.
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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