Bollinger band reading : pullback correction upside biased.
MACD Histrogram : weakening, buyer taking profit.
Support : 3200, 3150, 3100, 3070 level.
Resistance : 3250, 3270, 3300, 3350 level.
Comment :
FCPO closed recorded loss with little improve better volume traded. Soy oil price currently registering gain firmer after overnight closed recorded loss by more than 1% while crude oil price currently trading higher after yesterday fall.
Pressure from lower soybean price due to rain fall in Argentina soybean planting area resulted FCPO price to eased lower.
Still, FCPO is trading in a pullback correction upside biased market development.
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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