FCPO closed : 3500, changed : -11 points, volume : higher.
Bollinger band reading : side way range bound.
MACD Histogram : recovering, buyer seller battling.
Support : 3470, 3450, 3420, 3380 level.
Resistance : 3500, 3550, 3620, 3650 level.
Comment :
FCPO closed little lower with increasing volume traded. Soy oil price trading little higher after overnight closed recorded gain while crude oil price also edging higher.
Price trading mostly in negative territory through out the day on slowing global economy concern and anticipation of improving crude palm oil production ahead despite lower soybean crop development over South America.
Technical chart reading stayed suggesting a side way range bound 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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