Bollinger band reading : correction range bound upside biased.
MACD Histrogram : rising, buyer in control.
Support : 3950, 3920, 3900 level.
Resistance : 4000, 4070, 4120 level.
Comment :
FCPO closed recorded gain with much lower volume transacted ahead of changing month as tight supply concern remained a factor to watch while soy oil rebounding higher after overnight closed lower.
Daily chart formed an up bar candle after market opened gap down and recovered upward to closed near the high of the day with the reading suggesting a correction range bound upside biased 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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