Bollinger band reading : correction range bound downside biased.
MACD Histrogram : recovering, seller closing position.
Support : 1485, 1470, 1458, 1445 level.
Resistance : 1500, 1515, 1530, 1540 level.
Comment :
FKLI ended lower with decreasing volume changed hand doing about 11 points discount compare to cash market that closed little lower. Overnight U.S. market closed slightly higher and Asia markets ended mostly lower while European markets currently trading in negative zone.
Sentiment tuned negative as investors raised concern on U.S. stimulus plan after two Federal Reserve officials questioned the amount of stimulus being applied and the central bank shouldn’t act to protect equity investors while the Japanese yen rose toward a post-World War II high.
Daily chart formed a down doji bar candle positioned nearer to middle Bollinger band level after market opened lower, edge upwards near resistance level and slide lower followed by second session rebounded upward to closed off the low of the day.
Chart reading still calling 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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