Bollinger band reading : upside biased with possible pullback correction.
MACD Histrogram : rising, buyer patrolling.
Support : 1580, 1565, 1550, 1540 level.
Resistance : 1590, 1600, 1610, 1620 level.
Comment :
FKLI closed recorded gain with slightly better but relatively low volume transacted doing 2 points premium compare to cash market that closed higher while Asia and European market closed and trading mostly higher with overnight U.S. market closed recorded gain.
Market sentiment continue to stay positive as fears of an imminent default by Greece receded plus improved U.S. factory activities data and lower jobless claim.
Daily chart formed a small body down doji bar candle with lower shadow positioned above upper Bollinger band after market opened higher, jumped downward and traded range bound before last 1/2 hour pushed to closed back up to near opening price.
Chart reading still calling for an upside biased market development with possible pullback correction testing support and resistance level.
When to buy : buy at support or weakness with moderate cut loss and profit target.
When to sell : sell at resistant or strength with quick cut loss and profit target.
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