FKLI closed : 1559 changed : +2 points, volume : higher.
Bollinger band reading : little downside biased.
MACD Histrogram : turned upwards again, reducing exposure.
Support : 1550, 1540, 1530, 1515 level.
Resistance : 1565, 1570, 1580, 1590 level.
Comment :
FKLI closed recorded gain with increasing volume participation doing 2.5 points discount compare to cash market that closed little higher while Asia markets closed mostly higher and European markets currently trading mixed with overnight U.S. market continue to closed weaker.
Most markets traded rebounding higher after U.S. President Barack Obama delivered a prime-time address to Americans, warning that a default on U.S. bond obligations would be a "reckless and irresponsible outcome".
FKLI daily chart formed an up doji bar candle closed near lower middle Bollinger band level after market opened and tested little lower, followed by an upward surge to higher ground and traded range bound after that toward the end to closed off the higher off the day with big portion of the activities consist of rollover activities.
Technical reading continue to call for a near term little downside biased market development testing support and resistance level awaits final result from the U.S. lawmakers decision.
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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