Bollinger band reading : side way range bound downside biased.
MACD Histrogram : turned higher, buyer and seller participate less on the last day of Palm Oil Conference.
Support : 3550, 3500, 3470, 3450 level.
Resistance : 3620, 3650, 3700, 3720 level.
Comment :
FCPO closed 1 tick higher with much lower volume changed hand on the last and crucial day of POC as traders taking their time to digest research presented by industry expert while crude oil and soy oil trading little lower.
Daily chart formed a tiny little doji bar candle after opened 1 tick higher, traded range bound and closed at the day opened price.
Chart reading still suggesting a side way range bound downside biased market development testing support and resistance level with MACD indicator still not able to do a cross up.
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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