Bollinger band reading : side way range bound.
MACD Histrogram : turned upward, buyer and seller battling.
Support : 3650, 3620, 3550 level.
Resistance : 3700, 3720, 3750 level.
Comment :
FCPO closed recorded small gain with lower volume transacted after 2 days of severe fall while soy oil futures price traded weaker after overnight closed rebounded higher.
Daily chart formed a down doji bar candle after market traded range bound tested resistant and support levels and closed near middle Bollinger band resistant level with the reading calling for a side way range bound market development.
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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