Bollinger band reading : pullback correction little upside biased.
MACD Histrogram : turned lower, buyer taking profit.
Support : 3150, 3100, 3070, 3050, 3020 level.
Resistance : 3150, 3200, 3250, 3270, 3300 level.
Comment :
FCPO closed recorded loss with lower volume participation. Overnight soy oil closed recorded marginal loss and currently trading lower while crude oil price rebounding little higher after overnight falls.
FCPO doing pullback correction due to profit taking activities after recent rallies ahead of New Year holiday.
Daily chart formed a down doji bar candle closed lower from upper Bollinger band level after market opened lower, edge upward slightly and swing downwards before last minutes lift to closed off the low of the day.
Technical study revised to suggesting a pullback correction 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.
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