20120217 1807 FCPO EOD Daily Chart Study.

FCPO closed : 3242, changed : +53 points, volume : higher.
Bollinger band reading : little upside biased.
MACD Histrogram : rising, buyer taking exposure.
Support : 3200, 3150, 3100, 3070 level.
Resistance : 3250, 3270, 3300, 3350 level.
Comment :
FCPO closed rallied higher with rising volume participation. Soy oil price currently trading higher after overnight closed declined lower while crude oil price continue to trade higher.
Weaker U.S. Dollar plus improved U.S. economy data and worry over South America bad weather will affect lower soy bean crop resulted most commodities to advance higher.
Chart study turned to suggesting a 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.