FCPO closed : 3116, changed : -28 points, volume : lower.
Bollinger band reading : correction range bound little downside biased.
MACD Histrogram : rising higher, buyer taking small exposure market.
Support : 3100, 3070, 3050, 3020 level.
Resistance : 3150, 3200, 3250, 3270 level.
Comment :
FCPO closed recorded marginal loss with slower volume changed hand while soy oil overnight closed lower and currently trading higher.
News wise, both export cargo surveyor reported improving export data up 12% and 4.6% respectively but price traded entirely negative territory as yesterday buying activities seem factored in.
Daily chart formed a doji bar candle closed nearer to upper Bollinger band level after market opened lower, traded range bound within tight 23 points range towards the end with last minute sell down to closed near the low of the day.
Chart reading still call for a correction 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.
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