Bollinger band reading : pullback correction upside biased.
MACD Histrogram : rising higher, buyer in control.
Support : 3470, 3450, 3420, 3380 level.
Resistance : 3500, 3550, 3620, 3650 level.
Comment :
FCPO closed pullback little lower with decreasing volume exchanged. Soy oil price currently rebounding little higher after overnight closed lower while crude oil price also having pullback correction.
Price corrected from 1 year high as trader lock in partial profit after recent strong rallies with fundamental remained unchanged.
Daily chart study 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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