Bollinger band reading : pullback correction downside biased.
MACD Histogram : turned upward, buyer seller battling.
Support : 2880, 2840, 2800, 2770 level.
Resistance : 2900, 2920, 2950, 2970 level.
Comment :
FCPO closed recovered little upward with better volume changed hand. Soy oil currently declining lower after overnight advanced about 1.5% while crude oil price currently falling lower.
Price traded mostly in negative zone through out the day after ITS cargo surveyor reported weaker export data and MPOB official data also reported negative impact data with lower export, higher stock and production level followed by late afternoon SGS cargo surveyor positive export data lifted price into positive territory.
Daily chart study revised to calling a pillback correction downside biased market development after price tested near lower Bollinger band support level and rebounded.
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.
No comments:
Post a Comment