Bollinger band reading : pullback correction little upside biased.
MACD Histogram : weakening, buyer leaving as seller testing market.
Support : 2920, 2900, 2850, 2800 level.
Resistance : 2950, 2970, 3020, 3050 level.
Comment :
FCPO closed recorded loss for the 3rd day with better volume participation. Soy oil currently trading lower after over closed recorded small loss while crude oil price currently recording 1% gains.
Price continue to head south on rising stockpile worries after industry expert suspect that Indonesia inventory level may be much higher than estimated.
Daily chart reading adjusted to suggesting a pullback correction little 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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