Bollinger band reading : pullback correction upside biased.
MACD Histrogram : weakenning, buyer taking profit.
Support : 3350, 3300, 3270, 3250 level.
Resistance : 3420, 3450, 3470, 3500 level.
Comment :
FCPO closed recorded loss with increasing volume participation. Soy oil price currently registering loss of nearly 1% after overnight closed little lower while crude oil price currently pulling back lower after overnight gain.
Concern over slowing down China and U.S. economy growth, firmer U.S. Dollar and cargo surveyor reported improved but slower export data pressed FCPO price lower.
Technical chart analysis still 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.
No comments:
Post a Comment