FKLI closed : 1580 changed : +1 point, volume : lower.
Bollinger band reading : correction range bound little upside biased.
MACD Histrogram : falling, seller taking small exposure.
Support : 1570, 1565, 1550, 1540 level.
Resistance : 1580, 1590, 1600, 1610 level.
Comment :
FKLI closed recorded small gain with decreasing volume transacted doing 2.5 points premium compare to cash market that closed little lower while Asia markets ended mixed and European markets continue to trade weaker with overnight U.S. market continue to closed lower.
News wise, another possible U.S. credit-rating downgrade this time by S&P, no immediate plan to stimulus U.S. economy statement by Federal Reserve chairman, weaker retailers sales data, unsettle U.S. debt limit problem are some of the additional negative news from the U.S. While on the European zone, market awaits bank stress test full result.
China announced higher 1st half foreign direct investment and expanding measure to curb escalation housing price to smaller cities.
Daily chart formed an up doji bar candle with lower shadow closed right at middle Bollinger band level after market lower, moved side ways within 4 points range bound market followed by last half an hour push lifted price to closed near the high of the day.
Chart reading turned to suggesting a correction range bound little upside biased 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.
No comments:
Post a Comment