FCPO closed : 2951, changed : +25 points, volume : higher.
Bollinger band reading : pullback correction little downside biased.
MACD Histogram : falling, seller in advantage.
Support : 2950, 2920, 2900, 2850 level.
Resistance : 2950, 2970, 3020, 3050 level.
Comment :
FCPO closed rebounded higher after plunged about 140 point in 3 days with higher volume traded. Soy oil currently rebounding higher after slumped by more than 4% while crude oil price currently trading little higher moving sideways.
Price recovered partially after export data released by 2 cargo surveyors shows lower but improving figures.
FCPO daily chart analysis adjusted to calling a pullback correction little downside 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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