Bollinger band reading : correction range bound downside biased.
MACD Histrogram : recovering, seller realising profit.
Support : 1515, 1500, 1485 level.
Resistance : 1530, 1540, 1550 level.
Comment :
FKLI closed recorded loss with higher volume participation doing 11 points discount compare to cash market after China official announce a rate hike of 0.25 triggered regional market to closed in red despite overnight U.S. market continue to surged higher.
Daily chart formed a wide range down bar candle after market opened gap up and dive lower to closed near the low of the day and market could possibly resuming its downward movement after few day of correction range bound with the reading suggesting a correction range bound downside biased 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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