FKLI spot month contract ended the day at 1244.5 up 6 points. After a bullish opening and follow through buying pushed it higher to 1251.5 at the morning session then profit taking come in during the second session to closed the day near the low. Today doji bar candle attempted but failed to maintain itself above mid Bollinger band = market has yet to turned back into positive sentiment in the current correction phase. Bollinger band width continue to get narrower = market are likely to trade side way range bound. Despite market closed higher, MACD Histrogram still record a drop today = seller still dominate the market. It would takes price to closed above mid Bollinger band and MACD Histrogram stop falling for any hope for the market to turned upside.
When to buy : Buy only on weakness with quick cut loss and profit target.
When to sell : Sell on strength or break down with quick cut loss and profit target.
No comments:
Post a Comment