Bollinger band reading : side way range bound.
MACD Histrogram : weakenning, buyer reducing position.
Support : 3350, 3300, 3270, 3250 level.
Resistance : 3420, 3450, 3470, 3500 level.
Comment :
FCPO closed recorded small loss with lower volume traded (partially are roll over activities ahead of 15th change month) while soy oil overnight plunge severly lower down about 3% and currently rebounding little higher. News wise, time: 17.55 Reuters reported that China to import more palm oil ahead of warmer weather.
Daily chart formed an up doji bar candle positioned at middle Bollinger band level after market opened gap down, tested lower support and recovered upward tested resistance to closed near the high of the day.
Chart wise, market is likely to trade side way range bound testing support and resistance level with a minor break down(purely a wild guessing).
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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