Bollinger band reading : pullback correction upside biased.
MACD Histogram : rising higher, buyer in control.
Support : 3550, 3500, 3470, 3450 level.
Resistance : 3620, 3650, 3700, 3720 level.
Comment :
FCPO closed recorded gain after hitting 13 month high with heavier volume transacted. Soy oil price currently edge up higher after overnight closed recorded loss while crude oil price still correcting lower.
Higher demand prospect and lower soybean crop remained the main factor pushing FCPO price higher.
Daily chart analysis remained calling a pullback correction upside biased market development.
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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