Bollinger band reading : side way range bound little downside biased.
MACD Histogram : falling lower, seller taking exposure.
Support : 3450, 3420, 3380, 3350 level.
Resistance : 3470, 3500, 3550, 3620 level.
Comment :
FCPO closed recorded loss with improved volume participation. Soy oil price trading higher after overnight closed recorded small loss while crude oil price consolidating lower after overnight rally.
Price moved south despite better exports data reported by 2 cargo surveyor as concern over higher crude palm oil production preventing price to move higher into positive zone.
Technical daily chart analysis revised to recommending a side way range bound little downside 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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