FKLI closed : 1542, changed : -1.5 point, volume : lower.
Bollinger band reading : pullback correction downside biased.
MACD Histrogram : turned upward, seller taking partial profit.
Support : 1540, 1530, 1515, 1500 level.
Resistance : 1550, 1565, 1570, 1580 level.
Comment :
FKLI closed recorded small loss with quiet volume transacted doing 5.5 points discount compare to cash market that closed little higher. Asia markets closed mixed and European markets opened higher but currently also having mixed development with overnight U.S. market having technical rebound closed little higher.
Fear of slowing global economy growth and some speculation play on possible U.S. Federal Reserve may consider another program to stimulate its economy leaded regional markets to trade mixed.
Daily chart formed a down doji bar candle closed little higher from lower Bollinger band level doing pullback correction after market opened and tested higher, slide lower toward second session and recovered slightly to closed off the low of the day.
Chart reading suggesting a pullback correction downside biased market 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 moderate cut loss and profit target.
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