FKLI closed : 1477, changed : +2.5 points, volume : lower.
Bollinger band reading : correction range bound downside biased.
MACD Histrogram : turned upward, seller closing position.
Support : 1470, 1458, 1445, 1425 level.
Resistance : 1485, 1500, 1515, 1530 level.
Comment :
FKLI ended slightly higher with about the same volume exchanged doing 4.5 points premium compare to cash market that closed 11 points lower. Last Friday U.S. market closed lower and Asia markets ended mixed while European markets currently rebounding higher.
Speculation on Federal Reserve may this week signal addition measures to stimulate the U.S. economy and news on Libyan rebels swept into Tripoli and captured two of Muammar Qaddafi’s sons as the battle to end his 42 years of autocratic rule arrived at the doorstep of his presidential compound lead European markets, FKLI and U.S. Dow Futures market to trade higher.
Daily chart formed an up doji bar candle positioned between middle and lower Bollinger band level after market opened little higher, soften lower, swing upwards higher and falls lower recorded loss before recovered upward again to closed near opening price.
Chart reading suggesting a correction range bound downside biased market development testing support and resistance level.
When to buy : buy at support or weakness with quick cut loss and profit target.
When to sell : sell at resistance or strength with quick cut loss and profit target.
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