Bollinger band reading : pullback correction little downside biased.
MACD Histrogram : turned upward, buyer seller battling.
Support : 3050, 3020, 2970, 2950 level.
Resistance : 3070, 3100, 3150, 3200 level.
Comment :
FCPO closed recorded gains with better volume changed hand. Overnight soy oil closed recorded small loss and currently rebounding higher while crude oil price trading lower.
Higher exports from Indonesia that climb 42.5% according to industry source lead FCPO price to rebound higher.
Daily chart formed an up bar candle closed in between middle and lower Bollinger band level after market opened and trade little lower, and climb upwards all the day to closed at the high of the day.
Technical study suggesting a pullback correction 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.
No comments:
Post a Comment