Bollinger band reading : pullback correction downside biased.
MACD Histrogram : turned upward, seller taking profit
Support : 1485, 1470, 1458, 1445 level.
Resistance : 1500, 1515, 1530, 1540 level.
Comment :
Recovery FKLI closed recorded gain with slower volume changed hand doing less than 2 point premium compare to cash market while regional markets ended higher on recovery mode with Japan Nikkei market leading the recovery up 5.68% after few day of selling down.
Daily chart formed the 4th doji bar candle with long lower shadow correction upward positioned between lower and middle Bollinger band level after market opened gap up, fall lower and recover to closed near the high of the day.
Chart reading suggesting a downside biased pullback correction taking place market development with the correction could possibly testing resistance near middle Bollinger band level.
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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