20120131 1815 FCPO EOD Daily Chart Study.

FCPO closed : 3078, changed : -4 points, volume : higher.
Bollinger band reading : little downside biased with possible pullback correction.
MACD Histrogram : falling, seller taking exposure.
Support : 3070, 3050, 3020, 2970 level.
Resistance : 3100, 3150, 3200, 3250 level.
Comment :
FCPO closed recorded tiny loss with rising volume participation. Soy oil price currently rebounding higher after overnight fall severely lower while crude oil price currently trading higher testing 100 resistance level.
Both ITS and SGS cargo surveyor reported improved but still declined month to month export data.
Daily chart reading remained suggesting a little downside biased market development with possible pullback correction.
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.