Bollinger band reading : side way range bound.
MACD Histrogram : weakening, seller testing market as buyer leaving.
Support : 3720, 3700, 3650 level.
Resistance : 3750, 3800, 3850 level.
Comment :
Change month FCPO closed recorded huge losses down 140 points or 3.6% (continuous chart down 188 points) as export data released shown significant lower but still improved figure and soy oil futures price Monday night plus yesterday night closed recorded severe losses.
Daily chart formed a down bar candle after market opened gap down, dive deeper and closed near the low of the day and below middle Bollinger band support level. Technical chart reading turned to suggesting a side way range bound market development with MACD negative divergence forming.
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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