Bollinger band reading : pullback correction upside biased.
MACD Histrogram : weakening, buyer taking profit.
Support : 3270, 3250, 3200, 3150 level.
Resistance : 3300, 3350, 3420, 3450 level.
Comment :
FCPO closed little higher with weaker volume changed hand. Soy oil price currently trading little weaker after overnight closed recorded loss while crude oil price trading higher after overnight closed nearly unchanged.
Weaker export data and profit taking activities sent price tested 6 days low and rebound sharply upwards to closed at the high of the day.
Chart analysis 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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