Bollinger band reading : side way range bound.
MACD Histogram : falling lower, buyer seller battling.
Support : 3450, 3420, 3380, 3350 level.
Resistance : 3470, 3500, 3550, 3620 level.
Comment :
FCPO closed recorded small loss with shrinking volume transacted. Soy oil price currently rebounding higher after overnight dropped about 1.5% while crude oil moving side way between gain and losses.
FCPO price opened little higher but swing back to negative zone and move range bound after negative development over soy oil and weaker global market performance amid slowing down global economy will affect commodities demand and ahead of tomorrow export data.
Daily chart analysis revised to calling a side way range bound development between 3520 and 3440 price range.
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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