Bollinger band reading : side way range bound little downside biased.
MACD Histrogram : falling, seller in advantage.
Support : 1550, 1540, 1530, 1515 level.
Resistance : 1565, 1570, 1580, 1590 level.
Comment :
FKLI closed little higher with half of yesterday volume traded doing about 1.5 points premium compare to cash market that closed recorded gains while Asia markets ended higher except Shanghai exchange and European markets currently trading firmer with overnight U.S. market closed recorded huge gains.
Progress on a U.S. budget-reduction deal and better tops corporate earnings leading regional markets to trade in positive territory. Local front, market awaits tomorrow mega IPO Bumi Armada listing performance.
Daily chart formed a small down doji bar candle closed above lower Bollinger band level after market opened higher, traded range bound within 6 points range and closed near opening price.
Technical reading suggesting a side way range bound market little downside 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.
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