Bollinger band reading : downside biased with possible pullback correction.
MACD Histogram : resumed falling, seller in control.
Support : 3050, 3020, 2970, 2930 level.
Resistance : 3070, 3100, 3150, 3200 level.
Comment :
FCPO closed recorded severe loss again with ultra high volume changed hand. Soy oil price currently trading sharply lower after overnight closed rebounded upwards slightly while crude oil price trading lower testing lower support.
Price plunge lower again hitting 3 month low as global commodities continue to fall lower after turmoil in Greece political condition.
Daily chart study revised to calling 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.
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