Bollinger band reading : correction range bound downside biased.
MACD Histrogram : recovering, seller reducing position.
Support : 3650, 3620, 3550, 3500 level.
Resistance : 3700, 3720, 3750 level.
Comment :
FCPO closed higher for the 4th day decreasing exhanged after news on Reuters survey news of Malaysia Feb 2011 stock level fall to 10 month lows and ahead of next week 3 days MPOB Palm Oil Conference 2011 while firmer crude oil price seems affecting a soy oil prices to trade higher.
Daily chart formed a up bar candle continue to head toward middle Bolligner band level after market opened gap up, tested lower level and recovered upward surging higher closed near the high of the day.
Chart reading remained unchanged with a correction range bound downside biased market development testing support and resistant 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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