Bollinger band reading : side way range bound.
MACD Histogram : weakenning, buyer closing position.
Support : 2970, 2950, 2920, 2900 level.
Resistance : 3020, 3050, 3070, 3100 level.
Comment :
FCPO closed recorded severe loss again with ultra high volume transacted. Soy oil currently trading weaker after overnight closed recorded loss while crude oil price currently recording loss.
Selling activities continue to take place today on weak exports concern due to gloommy global economy will cause lower demand plus the latest weather forecast news of coming heavy rains across U.S. planting area.
Technical chart reading revised to reccommending a side way range bound 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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