Bollinger band reading : side way range bound.
MACD Histrogram : turned falling, seller taking exposure.
Support : 3700, 3650, 3620 level.
Resistance : 3720, 3750, 3800 level.
Comment :
132 points range FCPO closed weaker recorded small loss with higher volume changed hand after news on China possible move to cut taxes on some of the importing food.
Daily chart formed a down doji bar candle with long lower shadow after market opened gap up, traded lower tested support level and recovered upward to closed off the low positioned below middle Bollinger band level with the reading suggesting a side way range bound market development with MACD negative divergence confirmed crossed down today.
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.
2 comments:
A volatile day....
More to come.
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