Bollinger band reading : side way range bound.
MACD Histrogram : rising, buyer taking exposure.
Support : 3150, 3100, 3070, 3050 level.
Resistance : 3200, 3250, 3270, 3300 level.
Comment :
FCPO corrected lower with slower volume exchanged. Soy oil price currently trading higher after overnight closed marginally lower while crude oil price trading higher above 101 per barrel.
Price traded range bound swing between gains and losses but still closed in negative zone after both cargo surveyor reported slowing down export data.
Chart study has turned to suggesting a side way range bound market development testing support and resistance level.
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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