Bollinger band reading : side way range bound little downside biased.
MACD Histrogram : weakening, buyer leaving.
Support : 3270, 3250, 3200, 3150 level.
Resistance : 3300, 3350, 3420, 3450 level.
Comment :
Quiet FCPO closed 1 tick higher with almost half of the last Friday volume traded despite export data released showing increased and improved demand while soy oil last Friday closed recovered substantially higher, about unchanged yesterday and currently easing lower surrendering some of last Friday big gains.
Daily chart formed a down bar candle with upper shadow positioned nearer to middle Bollinger band level after gap up, traded range bound before retreating lower to closed at the low of the day.
Chart reading still suggesting a side way 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.
No comments:
Post a Comment