Bollinger band reading : pullback correction upside biased.
MACD Histrogram : weakenning weakening buyer taking profit.
Support : 3350, 3300, 3270, 3250 level.
Resistance : 3420, 3450, 3470, 3500 level.
Comment :
FCPO closed 2 ticks higher with declined volume transacted. Soy oil price currently rebounding little higher after overnight fall nearly 2% while crude oil price currently trading higher.
FCPO price traded range bound through out the day without clear direction as overnight soy oil price plunge, slowing China and India growth concern with higher export prospect.
Daily chart study still calling 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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