Bollinger band reading : correction range bound little downside biased.
MACD Histogram : recovering, seller reducing exposure.
Support : 2920, 2900, 2850, 2800 level.
Resistance : 2950, 2970, 3020, 3050 level.
Comment :
FCPO closed 1 tick higher with slower volume traded. Soy oil currently rebounding higher after overnight plunged lower by more than 1.5% while crude oil price currently trading little higher.
Remained uncertain gloomy global economy after U.S. Federal Reserve refrained from implement further stimulus measure resulted crude palm oil to trade mostly in negative territory through out the day followed by last minutes recovery to closed 1 points higher.
Daily chart reading adjusted to suggesting a correction range bound 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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