Bollinger band reading : correction range bound little upside biased.
MACD Histrogram : rising, buyer in control.
Support : 3350, 3300, 3270, 3250 level.
Resistance : 3420, 3450, 3470, 3500 level.
Comment :
FCPO closed recorded small gain with half of yesterday volume transacted ahead of tomorrow export data while soy oil overnight closed lower and currently rebounding as crude oil also having technical rebound.
Daily chart formed a small up doji bar candle closed near upper Bollinger band level after market opened higher and traded within 23 point range bound quiet activities market and closed little higher.
Chart reading suggesting a correction range bound little upside biased market development.
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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