Bollinger band reading : downside biased.
MACD Histrogram : resume lower, seller adding position.
Support : 1485, 1470, 1458 level.
Resistance : 1500, 1515, 1530 level.
Comment :
FKLI closed recorded massive loss with higher volume transacted doing 13 points discount compare to cash market while regional market closed lower except for Shanghai exchange as market seems digesting the impact of China rate hike news.
Daily chart formed a wide range down bar candle after market opened gap down and dive deep(with lots to stop loss order triggered) to closed at the low of the day resuming downward movement with the reading turned to suggesting a 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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