Bollinger band reading : correction range bound upside biased.
MACD Histrogram : resumed higher, buyer still in control.
Support : 3770, 3750, 3720 level.
Resistance : 3800, 3870, 3920 level.
Comment :
FCPO ended the year recorded gain with better volume traded ahead of long holidays and Monday 1~31 Dec 2010 export data release while soy oil resumed upward movement after having pullback correction for 2 days.
Daily chart formed an up bar candle with small lower shadow after price opened and tested lower support level and surged upward after yesterday pullback correction with the reading suggesting a correction range bound further upside biased potential 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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