Bollinger band reading : side way range bound downside biased.
MACD Histrogram : rising, seller closing position while buyer testing market.
Support : 1400, 1395, 1385, 1375 level.
Resistance : 1420, 1425, 1440, 1445 level.
Comment :
FKLI closed recorded gains with slower volume participation doing 6 points premium compare to cash market that ended little lower. Last Friday U.S. market closed little lower and today's Asia markets traded mostly higher while European markets currently trading in positive tones.
Germany and France move to support European banks with adequate capital and U.S. better than estimates payroll data lifted most regional markets higher.
Daily chart formed an up bar candle with lower shadow closed above middle Bollinger band level after market opened and traded higher for the first 30 minutes and slide lower tested middle Bollinger band level before last hour upward surge to closed near the high of the day.
Chart reading still suggesting a side way 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 moderate cut loss and profit target.
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