Bollinger band reading : correction range bound downside biased.
MACD Histrogram : recovering, seller taking profit.
Support : 3550, 3500, 3470, 3450 level.
Resistance : 3620, 3650, 3700 level.
Comment :
FCPO comtinue to trade firmer closed recorded gain with higher vol exchanged as seller profit taking activities still take place while soy oil and crude oil price trading higher.
Daily chart formed an up doji bar candle with longer lower shadow heading toward middle Boilligeer band level after market opened little higher, tested lower and recovered upward to closed higher.
Chart reading still suggesting a correction range bound downside biased market development with the current movement likely to test higher resistance 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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