Bollinger band reading : side way range bound.
MACD Histrogram : recovering, buyer and seller battling to gain control.
Support : 3720, 3700, 3650 level.
Resistance : 3750, 3800, 3850 level.
Comment :
FCPO closed surprisingly unchanged with higher volume traded after market opened gap up more than 2% while soy oil futures price traded higher in tandem with major commodities prices.
Daily chart formed a down bar candle closed right at the middle Bollinger band support level with the reading suggesting 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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