Bollinger band reading : upside biased with possible pullback correction.
MACD Histrogram : rising higher, buyer in control.
Support : 3450, 3420, 3380, 3350 level.
Resistance : 3470, 3500, 3550, 3620 level.
Comment :
FCPO closed recorded gain with slower volume changed hand. Soy oil price currently soaring higher after last Friday closed rallied higher while crude oil price currently pulling back lower after surged higher.
Price continue to trade firmer after export data released showing sustainable demand plus slowing production anticipation in coming month with some bulk purchase from Thailand.
FCPO daily chart study remained suggesting an upside biased market development with possible pullback correction.
When to buy : buy at support or weakness with larger cut loss and profit target.
When to sell : sell at resistant or strength with quick cut loss and profit target.
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