Bollinger band reading : side way range bound little upside biased.
MACD Histogram : turned upward, buyer still in control.
Support : 3100, 3070, 3050, 3020 level.
Resistance : 3150, 3200, 3250, 3270 level.
Comment :
FCPO closed recorded gains with declining volume transacted. Soy oil currently trading higher by more than 1% after last Friday closed recorded gain while crude oil price currently sliding lower .
Price continue to trade higher despite export figure released by 1 cargo surveyor continue to recorded slower demand as drought weather in U.S. persists pressure grains related commodities to trade higher.
Daily technical chart reading revised to suggesting a side way range bound little upside biased market development.
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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