Bollinger band reading : correction range bound upside biased.
MACD Histrogram : weakening, buyer closing position.
Support : 1550, 1540, 1530, 1515 level.
Resistance : 1565, 1580, 1590, 1600 level.
Comment :
FKLI closed recorded small loss with better volume exchanged doing 5 points discount compare to cash market that closed recorded gain loss and regional markets (Asia and Europe) having mixed development while overnight U.S. market finally have a technical rebound.
Major news will be U.S. recorded unexpectedly recorded narrow trade deficit and The Bank of Korea raised interest rates for a third time this year.
Daily chart formed a down doji bar candle closed near middle Bollinger band level after market opened and tested higher, slide down lower slowly towards the end before recovered slightly still closed above support level.
Technical reading remained suggesting a correction range bound upside biased market development testing support and resistance level with MACD indicator almost having negative cross down.
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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