FKLI closed : 1463.5, changed : +0.5 point, volume : lower.
Bollinger band reading : side way range bound.
MACD Histrogram : rising higher, seller leaving.
Support : 1458, 1445, 1425, 1405 level.
Resistance : 1470, 1485, 1500, 1515 level.
Comment :
FKLI closed 1 tick higher with decreasing volume exchanged doing 6 points discount compare to cash market that ended higher. Overnight U.S. market closed rebounded substantially higher and today Asia markets ended mostly higher while European markets currently trading on positive territory.
Market seems little upbeat on U.S. President Obama job growth plan news and awaits European central bank and Bank of England interest rate decision.
Daily chart formed a down doji bar candle with long lower shadow positioned nearer to middle Bollinger band level after market opened little higher, fall lower tested support level and recovered upwards to closed off the low of the day.
Technical reading turned to suggesting a side way range bound 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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