20121217 1803 FCPO EOD Daily Chart Study.

FCPO closed : 2354, changed : +8 points, volume : lower.
Bollinger band reading : pullback correction downside biased.
MACD Histogram : rising higher, seller reducing position.
Support : 2350, 2300, 2270, 2250 level.
Resistance : 2400, 2450, 2490, 2520 level.
Comment :
FCPO closed recorded small gain with declined volume changed hand. Soy oil price currently trading firmer after last Friday closed 2% higher while crude oil price easing little lower.
FCPO price opened substantially higher after last Friday soy oil price surge but lower exports figure released by cargo surveyor pressure price to move downwards capping gain limited.
FCPO daily chart reading continue to suggesting a pullback correction downside biased market development with MACD having positive crossed up.
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.