Bollinger band reading : pullback correction little downside biased.
MACD Histogram : falling, seller in advantage.
Support : 2900, 2850, 2800, 2770 level.
Resistance : 2920, 2950, 2970, 3020, 3050 level.
Comment :
FCPO declined significantly lower with lesser volume changed hand. Soy oil currently trading lower by more than 1% surrendered all overnight advances while crude oil price currently trading weaker.
News on rains across America plantation area and slowing demand worries after weaker global economy data reported send FCPO price traded lower after yesterday rebound.
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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