Bollinger band reading : pullbak correction downside biased.
MACD Histrogram : recovering, seller lockin in profit.
Support : 3270, 3250, 3200, 3150 level.
Resistance : 3300, 3350, 3420, 3450 level.
Comment :
Pullback correction FCPO closed recorded gain with decreasing volume changed hand after last Friday soy oil closed firmer and currently trading little higher.
Daily chart formed the 6th doji bar candle(down bar) with longer lower shadow positioned in between lower and middle Bollinger band level after market opened gap up, tested little higher and eased lower recording small loss before recover partial of the losses to closed off the low of the day.
Technical reading calling a pullback correction downside biased market development testing support and resistance level with MACD Histrogram positive divergence in the forming.
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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