Bollinger band reading : little upside biased with possible pullback correction.
MACD Histrogram : rising, buyer having exposure.
Support : 1440, 1425, 1420, 1400 level.
Resistance : 1445, 1458, 1470, 1485 level.
Comment :
FKLI closed recorded gain with decreasing volume transacted doing 4 points premium compare to cash market that closed little lower. Overnight U.S. markets closed recorded loss and Asia markets traded mixed while European markets currently trading mostly higher.
Market reacted differently to news of Spain's credit rating downgrades by S&P, China reported continue high inflation that may lead to further tightening measure and G20 meeting discussion on dept crisis.
Daily chart formed an up doji bar candle positioned near upper Bollinger band level after market opened 1 tick higher, eased downward recording loss and surged up 14 point within 30 minutes and trade range bound toward the end to closed near the high of the day.
Chart analysis turned to suggesting a little upside biased market development with possible pullback correction.
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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