Bollinger band reading : pullback correction upside biased.
MACD Histrogram : weakening, buyer taking profit.
Support : 3250, 3200, 3150, 3100 level.
Resistance : 3270, 3300, 3350, 3420 level.
Comment :
FCPO closed recorded losses with slower volume participation. Soy oil price currently trading little lower after overnight closed recorded marginal loss while crude oil price trading higher after overnight closed corrected lower.
Declined export data reported by 2 cargo surveyor and declining crude oil price resulted FCPO to pullback lower today and recent rallies.
Daily chart study 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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