Bollinger band reading : upside biased.
MACD Histrogram : rising, buyer in control.
Support : 3420, 3350, 3300, 3270, 3250 level.
Resistance : 3450, 3470, 3500, 3550 level.
Comment :
FCPO closed recorded gains with higher volume exchanged after both ITS and SGS cargo surveyor released higher export data while soy oil overnight closed little higher and currently trading firmer.
Daily chart formed an up doji bar candle closed near upper Bollinger band level after market opened little lower, tested near lower support level and pushed upwards toward the end to closed near the high of the day.
Technical chart reading turned to suggesting a upside biased market development development possible testing higher resistance level.
When to buy : buy at support or weakness with larger cut loss and profit target or buy at break up 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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