Bollinger band reading : side way range bound.
MACD Histogram : recovering, buyer seller battling.
Support : 3500, 3470, 3450, 3420 level.
Resistance : 3550, 3620, 3650, 3700 level.
Comment :
FCPO closed marginally higher with slower volume transacted. Soy oil price trading higher after overnight closed recorded loss while crude oil price declining lower.
Price traded range bound swing between gain and losses on mixed view on slower export concern due to weaker global economy and lower soybean crop development.
Still, daily chart reading remained 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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