Bollinger band reading : side way range bound.
MACD Histogram : weakenning, buyer closing position.
Support : 3050, 3020, 2970, 2950 level.
Resistance : 3070, 3100, 3150, 3200 level.
Comment :
FCPO closed rebounded higher recovered big portion of yesterday loss with slower volume exchanged. Soy oil currently trading higher by more than 1% after overnight closed recorded loss while crude oil price currently rising higher.
Price recovering higher ahead of Monday exports data and after China recorded quarterly GDP that is within forecast despite India trade body reported slower but withhin average surveyed vegetable oil and refined palm oil imports.
FCPO daily chart study remained calling a side way range bound market development testing resistance level near middle Bollinger band.
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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