Bollinger band reading : upside biased.
MACD Histogram : rising, buyer in control.
Support : 1620, 1610, 1600, 1590 level.
Resistance : 1630, 1640, 1650, 1660 level.
Comment :
FKLI closed recorded gain for the 6 consecutive days with little improved volume changed hand hitting new year high again doing 3.5 points premium compare to cash market that also closed higher. Overnight U.S. markets closed lower and today Asia markets ended mixed while European markets currently declining little lower.
World market having mixed reaction on European Central Bank and China Central Bank rate cut decision as ECB cheif statement on lower rate may not able to boots growth while investor choose to reduce exposure ahead of tonight U.S. jobs data.
Back home, Malaysia market remained upbeat as daily chart reading still calling an upside biased market development.
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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