Bollinger band reading : upside biased with possible pullback correction.
MACD Histrogram : rising, buyer in control.
Support : 3250, 3200, 3150, 3100 level.
Resistance : 3270, 3300, 3350, 3420 level.
Comment :
FCPO closed recorded gains with better volume transacted. Soy oil price currently trading higher after yesterday non trading day and last Friday ended higher while crude oil price continue to break higher.
Improved export data reported yesterday lifted FCPO price higher plus broad commodities price advance higher after Greece obtained 2nd bailout news.
Technical reading adjusted to suggesting an upside biased market development with possible pullback correction.
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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