Bollinger band reading : correction range bound upside biased.
MACD Histrogram : reverse lower, buyer defending as seller testing market.
Support : 3720, 3700, 3650 level.
Resistance : 3750, 3770, 3800 level.
Comment :
FCPO corrected downward recorded loss with lower volume transacted after hitting new high yesterday as soy oil and crude oil also having pullback correction as U.S. dollar rebounded overnight.
Daily chart formed a down bar candle pulling back after hitting upper Bollinger band resistant level yesterday with the reading 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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