Bollinger band reading : side way range bound.
MACD Histrogram : turned upward, seller reducing position.
Support : 1485, 1470, 1458 level.
Resistant : 1500, 1530, 1550 level.
Comment :
Wild market FKLI opened and tested lower support level and recovered surging upward recorded huge gain with lower volume transacted as market opened on concern of a potential Korean war follows by news of Irish bailout plus a firmer Taiwan China political environment after Taiwan’s ruling party Kuomintang won three of five seats in mayoral elections, signifying support for President Ma Ying-jeou’s pro-China policies.
Daily chart formed a longer lower shadow wide body up doji bar candle rebounding upward after tested lower Bollinger band level with the reading suggesting a consolidation side way range bound market development.
When to buy : buy at support or weakness with quick cut loss and profit target.
When to sell : sell at resistant or strength with quick cut loss and profit target.
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