Bollinger band reading : pullback correction downside biased.
MACD Histogram : falling lower, seller in control.
Support : 3350, 3330, 3300, 3270 level.
Resistance : 3380, 3420, 3450, 3470 level.
Comment :
FCPO closed little lower with better volume changed hand. Soy oil price currently consolidating higher after overnight closed recorded minor loss while crude oil price trading weaker.
Price traded range bound moving between gain and losses as traders eyeing coming Thursday MPOB official April 2012 data and cargo surveyor export figure.
Chart reading remained calling a pullback correction downside biased market development testing support and resistance level.
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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