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 1 tcik higher with soaring volume participation. Soy oil price currently trading firmer after overnight closed little higher while crude oil price rebounding little higher after overnight fall.
Europe crisis renewed concern development and lower palm oil inventories anticipation resulted FCPO to trade between gains and losses.
Technical reading 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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