Bollinger band reading : little downside biased.
MACD Histrogram : getting lower, seller in control.
Support : 3650, 3620, 3550 level.
Resistance : 3700, 3720, 3750 level.
Comment :
Hit 4 week low FCPO closed recorded loss for the 5th consecutive day with lower volume traded as soy oil Friday night closed significantly lower due to China food import tax issue.
Daily chart formed an up doji bar candle positioned nearer to lower Bollinger band with the bandwidth started to expand a little. Chart wise, the reading turned into suggesting a little downside biased market development testing lower support 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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