Bollinger band reading : correction range bound downside biased.
MACD Histrogram : recovering, seller reducing exposure.
Support : 1485, 1470, 1458, 1445 level.
Resistance : 1500, 1515, 1530, 1540 level.
Comment :
FKLI ended higher with quiet volume exchanged doing 4.5 points discount compare to cash market that also closed higher. Overnight U.S. market closed lower and Asia markets ended mixed while European markets currently trading mostly lower.
Mixed development over Asia and Europe region separately with Asia companies reported improved earnings, and a report showed Australian wages grew at a faster pace versus Europe German and French rejected an expansion of the region’s rescue fund and rebuffed calls for joint euro borrowing.
On the other hand, Bloomberg reported that Asia inflation risk may climb with Thailand first female Prime Minister Yingluck plan to boost Thai rice prices to lift rural incomes.
Daily chart formed a small up bar candle positioned in between lower and middle Bollinger band level after market opened higher, swing range bound upwards and closed near the high of the day.
Chart reading remained suggesting a correction range bound 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 quick cut loss and profit target.
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