Bollinger band reading : correction range bound upside biased.
MACD Histrogram : recovering, buyer continue to hold on.
Support : 3650, 3620, 3550 level.
Resistance : 3700, 3720, 3750 level.
Comment :
Rebounding FCPO recorded gain for the 3rd day with improving volume transacted after Indonesia official confirmed CPO export tax to increase to 20% while soy oil and crude oil futures prices continue to lift higher.
Daily chart formed an small body up doji bar candle continue rebounding higher since touched middle Bollinger band support level 5 days ago with still a correction range bound upside biased market reading testing higher resistance level near upper Bollinger band.
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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