Bollinger band reading : correction range bound upside biased.
MACD Histrogram : turned lower, buyer reducing positions.
Support : 3920, 3900, 3850 level.
Resistance : 3950, 4000, 4070 level.
Comment :
Low volume participation FCPO closed lower recorded loss ahead of tomorrow holiday, changing month and export data release after last Friday soy oil closed lower but currently rebounding higher.
Daily chart formed a small up doji bar candle after market opened gap down and recovered upward tested higher resistant but closed off 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.
No comments:
Post a Comment