Bollinger band reading : correction range bound downside biased.
MACD Histrogram : recovering, seller taking profit.
Support : 1458, 1445, 1425, 1405 level.
Resistance : 1470, 1485, 1500, 1515 level.
Comment :
FKLI closed recorded huge gains with better volume transacted doing 11 points discount compare to cash market that also closed significantly higher. Overnight U.S. market closed lower and Asia markets ended mixed while European markets currently trading lower.
FKLI and KLCI closed much higher after resume trading from 3 holidays break catching up regional market that closed higher previously. Regional market trade from uncertain to negative development today in anticipation of soon to be release U.S. jobless rate to remained above 9 percent.
Daily chart formed an up doji bar candle closed in between middle and lower Bollinger band level after market opened and surged higher, before traded side way range bound and closed off the high of the day.
Technical reading 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 resistance or strength with quick cut loss and profit target.
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