Bollinger band reading : pullback correction upside biased.
MACD Histogram : rising higher, buyer in control.
Support : 3050, 3020, 2970, 2950 level.
Resistance : 3070, 3100, 3150, 3200 level.
Comment :
FCPO closed marginally higher with descreasing volume exchanged. Soy oil price currently trading higher after overnight corrected little lower while crude oil price having small retreat after yesterday closed firmer.
Price traded in positive zone through out the day on higher crude oil price and better exports anticipation ahead on next Monday export data.
Chart wise, market continue to have pullback correction within an upside 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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