Bollinger band reading : correction range little downside biased.
MACD Histrogram : rising, buyer taking exposure.
Support : 3150, 3100, 3070, 3050 level.
Resistance : 3200, 3250, 3270, 3300 level.
Comment :
FCPO closed recorded gains with better volume participation. Soy oil price currently trading little lower after overnight closed rallied higher while crude oil price managed to break above 100 per barrel and trading firmer.
Crude palm oil futures price rallied higher after soy oil price lifted higher due to weaker U.S. Dollar and stressful weather returning to southern Brazil while market also awaits tomorrow export data by 2 cargo surveyors.
Technical reading adjusted to suggesting a correction range bound little downside biased market development with MACD indicator having positive crosses up.
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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