Bollinger band reading : side way range bound potentially testing lower support.
MACD Histrogram : getting lower, seller adding position.
Support : 3650, 3620, 3550 level.
Resistance : 3700, 3720, 3750 level.
Comment :
Wild swing market FCPO continue to closed weaker recorded loss with lower volume traded as traders eye on possible China import tax move and ahead of next Monday export data while soy oil trading lower after overnight closed recorded substantial gains.
Daily chart formed a wide body down doji bar candle as seller seems more aggressive to gain control with the reading still suggesting a side way range bound market development potentially testing lower support near lower Bollinger band level.
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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