Bollinger band reading : correction range bound little upside biased.
MACD Histogram : falling lower, buyer reducing exposure.
Support : 3470, 3450, 3420, 3380 level.
Resistance : 3500, 3550, 3620, 3650 level.
Comment :
FCPO closed slightly lower with ultra high volume distributed. Soy oil price currently surging higher up by 1% recovering back overnight falls while crude oil price currently trading higher.
Negative European debts development and concern over tomorrow export data may be slowing lead market to tested 3 weeks low and recovered upward to closed near opening price.
Daily chart technical reading revised to calling a correction range bound little 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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