Bollinger band reading : correction range downside biased.
MACD Histrogram : recovering, seller leaving as buyer testing market.
Support : 3150, 3100, 3070, 3050 level.
Resistance : 3200, 3250, 3270, 3300 level.
Comment :
19 points range FCPO closed rebounded higher with decreasing volume transacted. Soy oil price currently trading higher after last Friday closed nearly unchanged while crude oil price trading higher.
Positive progress over Greece bailout, weaker U.S. Dollar, little worries over slowing output level and South America soybean crop lifted FCPO price higher in positive zone through out the day.
Chart study still suggesting a correction range bound downside biased market development testing support and resistance level near middle Bollinger band.
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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