Bollinger band reading : correction range bound upside biased.
MACD Histrogram : turned downward, buyer reducing exposure.
Support : 1550, 1540, 1530, 1515 level.
Resistance : 1565, 1580, 1590, 1600 level.
Comment :
FKLI closed recorded loss thin volume traded doing 1 point premium compare to cash market that closed lower while regional(Asia & European) trading mostly lower with Hong Kong and China exchange closed for holiday while last Friday U.S. market closed weaker.
Market sentiment still biased to negative after U.S. employment grew at a slower pace, market anticipate a wider U.S. trade deficit and concern over unsolved U.S. dept ceiling issue.
Daily chart formed a down doji bar candle candle positioned in between upper and middle Bollinger band level after market opened weaker, traded range bound tested lower support level and closed recovered upward slightly near opening price.
Technical reading remained suggesting a correction range bound upside biased market development testing support and resistance level.
When to buy : buy at support or weakness with larger cut loss and profit target.
When to sell : sell at resistant or strength with quick cut loss and profit target.
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