FKLI tested the upper downward channel line and seems lack of momentum to march further ended the first session down 0.5 point to closed at 1265. The last hourly chart candle still holding above the middle Bollinger band with the band width turning inwards = market tested resistant level and likely to trade side way with a little upside biased for the near term. MACD Histrogram last reading seems weaker than the previous bars = seller still in control of the market. At the juction, expecting market to trade side way ranging due to lack of evidence for market to march up further. But should increasing volume returned to the market at the second session with price break above the upper downward channel line, market could possible test the next resistant level at 1269.
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