Bollinger band reading : downside biased with possible pullback correction.
MACD Histrogram : falling, seller in charge.
Support : 3050, 3020, 2970, 2950 level.
Resistance : 3070, 3100, 3150, 3200 level.
Comment :
FCPO closed recorded loss with increasing volume exchanged. Soy oil price currently trading lower after last 2 days rebounded higher while crude oil price currently trading lower.
Market reacted poorly to yesterday news on government delayed tax free crude palm oil export quotas.
Technical reading revised to suggesting a 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 larger cut loss and profit target.
No comments:
Post a Comment