Bollinger band reading : pullback correction upside biased.
MACD Histrogram : resumed rising, buyer in control.
Support : 3270, 3250, 3200, 3150 level.
Resistance : 3300, 3350, 3420, 3450 level.
Comment :
FCPO closed recorded gains with slower volume done. Soy oil price trading little lower after overnight closed recorded small gain while crude oil price resume testing higher resistance level registering gain.
FCPO price trading within 27 points range bound market through out the day with last minutes rushed upward to closed near the high after U.S. Dollar continue to be weaker.
Technical study remained suggesting a pullback correction 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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