Bollinger band reading : little downside biased.
MACD Histrogram : getting lower, seller in control.
Support : 3650, 3620, 3550 level.
Resistance : 3700, 3720, 3750 level.
Comment :
FCPO closed recorded small gain with better volume changed hand while soy oil reopen and traded severely higher following world major commodities higher price development. News wise, Reuters reported that Indonesia may keep Mar 2010 palm oil export tax unchanged.
Daily chart formed an down doji bar candle traded range bound through out the day testing support and resistance level to closed little higher with the reading suggesting a little downside 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.
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