Bollinger band reading : little downside biased.
MACD Histrogram : resume falling, buyer seller battling.
Support : 3070, 3050, 3020, 2970 level.
Resistance : 3100, 3150, 3200, 3250 level.
Comment :
FCPO closed recorded tiny loss with shrinking volume exchanged. Overnight soy oil closed marginally lower and currently trading weaker while crude oil price testing lower support level.
Quiet market traded today ahead of USDA reports and next week MPOB Nov2011 official data.
Daily chart formed a down doji bar candle closed below middle Bollinger band level after market opened 1 tick higher, edge upwards slightly and slide downwards lower before recovered partially to closed off the low of the day.
Technical study turned to suggesting a 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.
2 comments:
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