Bollinger band reading : pullback correction downside biased.
MACD Histrogram : recovering, seller take profit.
Support : 3200, 3150, 3100, 3070 level.
Resistance : 3250, 3270, 3300, 3350 level.
Comment :
Quiet market FCPO closed recorded small gain with lower volume transacted while overnight soy oil closed little higher.
Daily chart formed a doji bar candle positioned between middle and lower Bollinger band level.
Technical reading suggesting a pullback correction downside biased market development possibly testing higher 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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