Bollinger band reading : pullback correction downside biased.
MACD Histogram : recovering, buyer seller battling.
Support : 2840, 2800, 2770, 2750, 2720 level.
Resistance : 2880, 2900, 2920, 2950, 2970 level.
Comment :
FCPO closed marginally higher with lesser volume changed hand. Soy oil currently trading higher after overnight closed recorded loss while crude oil price currently trading range bound between gain and losses after recent rally.
Price tested below and closed above 2840 support level for the 4th day recorded small gain after both cargo surveyors reported improving exports data.
Technical chart study revised to suggesting a pullback correction downside biased 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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