Bollinger band reading : pullback correction upside biased.
MACD Histrogram : turned lower, buyer taking profit.
Support : 1515, 1505, 1500, 1494 level.
Resistance : 1530, 1540, 1550, 1565 level.
Comment :
FKLI closed rebounded higher after yesterday substantial losses with declined volume participation doing 1.5 point premium compare to cash market that closed higher. Overnight U.S. market closed registered minor gain and today Asia markets ended mixed while European markets trading lower.
Markets traded mixed to lower ahead of France bond sale.
Daily chart formed a small up doji bar candle closed below upper Bollinger band level after market opened and traded higher, moved side way range bound to closed off the high of the day.
Chart analysis remained suggesting a pullback correction upside 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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