Bollinger band reading : side way range bound.
MACD Histrogram : turner lower, buyer closing position.
Support : 1500, 1485, 1470, 1458 level.
Resistance : 1515, 1530, 1540, 1550 level.
Comment :
FKLI closed recorded significant loss with better volume changed hand doing about 14 points discount compare to cash market after surprise news on China Feb 2011 registered trade deficit plus getting worst Libya turmoil with the latest crude oil pipe and oil facilities zone bombing triggered regional market to closed red while US Dow Jone last look down by 60 points.
Daily chart formed a wide range down bar candle closed below middle Bollinger band support level after market opened gap down 1 point, slide downward slowly followed by last minutes sell down with closed near the low of the day.
Chart reading changed to suggesting a side way range bound market development possibly testing lower support level should the current middle east issue continue to get worst.
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.
No comments:
Post a Comment