Bollinger band reading : side way range bound little upside biased.
MACD Histrogram : weakening, buyer reducing position.
Support : 3100, 3070, 3050, 3020 level.
Resistance : 3150, 3200, 3250, 3270 level.
Comment :
FCPO closed recorded small loss with little improved volume participation while overnight soy oil closed lower and currently trading little higher parring yesterday loss.
Mixed news on higher Indonesia palm oil export, industry expert Mr. Dorad Mistry view on stock and production level to stayed at high level for the 2nd half of this year and uncertain weather condition over soybean and palm tree planting area resulted FCPO to trade little lower.
Daily chart formed a doji bar candle position nearer to middle Bollinger band level after market opened lower, dive deeper quickly and recover upward through out the remaining of the trading session salvaging partial of intraday loss to closed near opening price.
Chart reading remained suggesting a side way range bound little upside 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