Bollinger band reading : correction range bound little downside biased.
MACD Histrogram : rising higher, buyer increasing exposure.
Support : 3350, 3300, 3270, 3250, 3200 level.
Resistance : 3420, 3450, 3470, 3500 level.
Comment :
FCPO closed registered small loss with better volume traded while soy oil price trading firmer after overnight closed recorded small gain.
Daily chart formed a down doji bar candle with ;lower shadow positioned between upper and middle Bollinger band with the bandwidth narrowing after market opened gap up, tested little higher and retreated downward before recovered partial of the day losses to closed off the low of the day.
Chart reading suggesting a correction range bound little downside biased market development testing support and 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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