FKLI closed : 1557 changed : -10.5 points, volume : higher.
Bollinger band reading : little downside biased.
MACD Histrogram : resumed lower, seller in control.
Support : 1550, 1540, 1530, 1515 level.
Resistance : 1565, 1570, 1580, 1590 level.
Comment :
FKLI closed recorded loss with improved volume changed hand doing about 2.5 points discount compare to cash market that closed weaker while Asia markets ended mostly lower and European markets currently also trading mostly lower with few exchange recording small gain . Last Friday U.S. market also closed in lower ground.
Investors are losing out patience over dragging unsettle debt limit problem and a potential rating downgrade by divesting from markets and prefer over much safer choices such as gold that continue surging new high.
FKLI daily chart formed a down bar candle positioned nearer to lower middle Bollinger band level after market opened gap down, slipped little lower and moved side way through out the day to closed near the low of the day.
Charted reading revised to suggesting a little downside biased market development testing support and resistance level awaits final decision from U.S. congress.
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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