Bollinger band reading : side way range bound.
MACD Histrogram : falling, seller holding on.
Support : 3650, 3620, 3550 level.
Resistance : 3700, 3720, 3750 level.
Comment :
FCPO sliped lower recorded small loss after yesterday rebound with lesser volume changed hand ahead of next Monday export data while soy oil futures price continue to eased lower after last 2 days rally.
Daily chart formed a down doji bar candle with longer upper shadow after market opened lower, recovered tested higher resistant level near middle Bollinger band but face heavy selling pressure pressed price to closed near the low of the day. Reading continue to call for a side way range bound market development testing support and resistant level.
When to buy : buy at support or 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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