Bollinger band reading : side way range bound.
MACD Histrogram : recovering, buyer testing market.
Support : 3050, 3020, 2970, 2950 level.
Resistance : 3070, 3100, 3150, 3200 level.
Comment :
FCPO closed recorded gains with higher volume changed hand. Overnight soy oil closed recorded gains and currently trading firmer while crude oil price trading higher.
Improved global economy development resulted broad commodities to trade higher lifted FCPO price closed up by more than 1%.
Daily chart formed an up bar candle closed above middle Bollinger band level after market opened higher and edge upwards towards the end to closed at the high of the day.
Chart study turned to suggesting a side way range bound 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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