Bollinger band reading : side way range bound.
MACD Histogram : falling, seller taking exposure.
Support : 3020, 2970, 2950, 2920 level.
Resistance : 3020, 3050, 3070, 3100 level.
Comment :
FCPO closed recorded gains recovered most muge portion of yesterday loss with slower volume participation. Soy oil currently trading higher after overnight closed recorded small loss while crude oil price continue to test higher ground trading firmer after yesterday climb.
Price traded higher ahead of tomorrow exports data release by cargo surveyor, news on India's firm increased tenders for 18,000 tonnes of palm olein plus surging crude oil and grain base commodities prices.
FCPO daily chart study continue to suggesting a side way range bound market development possibly testing immediate resistance at middle Bollinger band 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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