Bollinger band reading : pullback correction upside biased.
MACD Histrogram : turned downward, buyer taking profit.
Support : 3300, 3270, 3250, 3200 level.
Resistance : 3350, 3420, 3450, 3470 level.
Comment :
FCPO fall lower with improving volume changed hand. Soy oil price currently pulling back lower after last Friday closed rallied higher while crude oil price trading lower.
Price corrected lower after recent rallies as traders decided to lock in profit. Meanwhile MPOB official released unexpected higher Feb 2012 inventories level while both cargo surveyor released better export data.
Daily Chart reading revised to 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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