Bollinger band reading : upside biased.
MACD Histrogram : weakening, buyer taking profit.
Support : 3270, 3250, 3200, 3150 level.
Resistance : 3300, 3350, 3420, 3450 level.
Comment :
FCPO closed recorded tiny gain with better volume participation. Soy oil price trading lower after last Friday closed recorded small gain while crude oil price having downward correction after hitting 9 months high.
Better crude palm oil export data reported by 2 cargo surveyor, higher crude oil price and higher soybean export lifted FCPO to test 3300 level and closed recorded small gain.
Daily chart analysis revised to suggesting an 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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