Bollinger band reading : side way range bound little upside biased.
MACD Histrogram : rising, buyer taking exposure.
Support : 3150, 3100, 3070, 3050 level.
Resistance : 3200, 3250, 3270, 3300 level.
Comment :
FCPO closed recorded small loss with increasing volume traded. Soy oil price currently trading lower after overnight closed recorded gains while crude oil price retracing lower after overnight gains.
Uncertainty over Greece bailout development resulted global commodities to drift lower plus weaker CPO export data reported yesterday also pressured FCPO to trade lower.
Technical reading adjusted to suggesting a side way range bound little upside biased market development.
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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