Bollinger band reading : pullback correction upside biased.
MACD Histrogram : turned downward, buyer lock in profit.
Support : 3450, 3420, 3380, 3350 level.
Resistance : 3470, 3500, 3550, 3620 level.
Comment :
FCPO continue to pullback lower with slowing down volume participation. Soy oil price currently drifting between gain and losses after overnight closed weaker while crude oil price consolidating lower.
Buyers continue to lock in profit after price rallied hitting 1 year high reducing exposure ahead of Friday USDA report.
Technical chart study remained 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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