Bollinger band reading : side way range bound upside biased.
MACD Histrogram : weakening, buyer lock in profit and reduce exposure.
Support : 1445, 1440, 1425, 1420 level.
Resistance : 1458, 1470, 1485, 1500 level.
Comment :
FKLI closed 1 tick higher with quiet volume exchanged doing 5.5 points discount compare to cash market that also closed higher. Overnight U.S. markets closed firmer and today Asia markets traded mostly higher while European markets currently trading mixed.
Markets moved between between gains and losses awaits final result of European summit meeting to bailout it's region debt crisis.
FKLI daily chart formed a down doji bar candle positioned in between middle and upper Bollinger band level after market opened higher and traded range bound in both positive and negative territory before closed near opening price.
Technical reading remained suggesting a side way range bound upside 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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