Bollinger band reading : correction range bound.
MACD Histogram : rising higher, buyer in advantage.
Support : 2950, 2920, 2900, 2880, 2840 level.
Resistance : 2950, 2970, 3020, 3050 level.
Comment :
FCPO closed firmer with improving volume changed hand. Soy oil currently trading little higher after overnight closed marginally lower while crude oil price currently pulling back little lower after yesterday closed higher.
Positive sentiment continues today on better demand prospect and still relatively wide price discount compare to rival soy oil plus persisting U.S. dry weather.
Daily chart reading adjusted to suggesting a correction range bound 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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