Bollinger band reading : pullback correction upside biased.
MACD Histrogram : turned downward, buyer lock in profit.
Support : 3350, 3300, 3270, 3250 level.
Resistance : 3420, 3450, 3470, 3500 level.
Comment :
FCPO closed 1 tick higher with better volume exchanged. Soy oil price currently trading lower after overnight closed rallied higher while crude oil price currently registering gain moving range bound.
Price retreated lower after hitting 9 months high as traders decided to lock in profit reducing exposure after recent rallies and ahead of the weekend.
Chart study adjusted 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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