Bollinger band reading : pullback correction upside biased.
MACD Histrogram : turned downward, buyer profit taking.
Support : 1550, 1540, 1530, 1515 level.
Resistance : 1565, 1580, 1590, 1600 level.
Comment :
FKLI closed recorded small gain with higher volume changed hand doing less than a point premium to cash market while regional market traded mixed on official news of China central bank increased interest rate again to curb inflation.
Daily chart formed an up doji bar candle with long lower shadow positioned below upper Bollinger band level after market opened unchanged, traded lower before surge upward recovered all losses and recorded gains to closed near the high of the day.
Chart reading suggesting a correction range bound upside biased market development testing support and resistance 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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