Bollinger band reading : upside biased.
MACD Histogram : resumed rising.
Support : 3070, 3050, 3020, 2970 level.
Resistance : 3100, 3120, 3150, 3200 level.
Comment :
FCPO closed rallied 1.8% higher with declining volume changed hand. Soy oil closed for labor day after last Friday quiet market ended recorded small loss while crude oil moving side way registering small decline.
Double digit percentage increased in exports figure released by ITS cargo surveyor pushed price higher deminishing concern on slower demand.
Daily technical chart reading adjusted back to suggesting an upside biased market development possibly testing previous resistance level .
When to buy : buy at support or break out with moderate 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