FKLI closed : 1563.5 changed : -1 points, volume : lower.
Bollinger band reading : upside biased with possible pullback correction.
MACD Histrogram : recovering, buyer in advantage
Support : 1550, 1540, 1530, 1515 level.
Resistance : 1565, 1580, 1590, 1600 level.
Comment :
Quiet market FKLI closed recorded small loss with relatively low volume participation doing 3.5 points discount compare to cash market that closed recorded gain while Asia and Europe markets having mixed development and overnight U.S. market continue rebounded higher.
Factor to monitor will be U.S. Federal Reserve effort seeking agreement to raise debts limit in order to provide further stimulus to the U.S. economy.
Daily chart formed a down bar candle with lower shadow closed near upper Bollinger band level after market opened gap up, slide lower followed by a small up swing after lunch session before continue to eased lower to closed near the low of the day.
Chart reading shows that market is likely to trade upside biased with possible pullback correction 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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