20120514 1819 FCPO EOD Daily Chart Study.

FCPO closed : 3150, changed : -125 points, volume : higher.
Bollinger band reading : downside biased with possible pullback correction.
MACD Histogram : resume falling, seller in control.
Support :  3150, 3100, 3070, 3050 level.
Resistance : 3200, 3250, 3270, 3300 level.
Comment :
FCPO collapse badly down by nearly 4% with ultra high volume changed hand. Soy oil price currently falls by 2% after last Friday closed severely lower while crude oil price testing lower support level.
Rising U.S. Dollar as Euro continue to trade weaker after possible Greece exit from EU development resulted global commodities and FCPO to trade substantially lower while traders awaits tomorrow export figure.
Daily chart reading remained suggesting a downside biased market development with possible pullback correction.
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.