Bollinger band reading : correction range bound downside biased.
MACD Histrogram : rising higher, buyer taking small exposure.
Support : 3350, 3300, 3270, 3250, 3200 level.
Resistance : 3420, 3450, 3470, 3500 level.
Comment :
Quiet FCPO closed recorded gains with decreasing volume traded while soy oil price trading higher after last Friday marginal loss with crude oil price continue edge up higher.
Daily chart formed an up doji bar candle positioned above middle Bollinger band level after market opened gap up, tested little downside and surged higher before eased little downward to closed but managed to closed near the high of the day.
Technical study still suggesting a correction range bound downside biased market development possibly testing higher resistant near upper Bollinger band.
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.
No comments:
Post a Comment