FKLI closed : 1455.5, changed : -11.5 points, volume : higher.
Bollinger band reading : pullback correction upside biased.
MACD Histrogram : weakening, buyer taking profit and reducing position.
Support : 1445, 1440, 1435, 1425 level.
Resistance : 1458, 1470, 1485, 1500, 1515 level.
Comment :
FKLI closed recorded loss with increasing volume exchanged doing 6.5 points discount compare to cash market that also closed lower. Overnight U.S. markets closed rebounded higher and today Asia markets traded mostly lower while European markets currently in negative territory.
Overnight U.S. market soar higher after Federal Reserve chairman statement says it may act to safeguard recovery but Asia markets closed lower and European market dropping as Euro zone leaders halted aid payments to Greece before its referendum on the region’s bailout plan.
Daily chart formed a down doji bar candle with lower shadow closed right at middle Bollinger band level after market opened lower, dive lower tested support level and recovered upwards salvaged partial of intraday losses to closed off the low of the day.
chart reading still suggesting a pullback correction phase within an upside biased market development having consolidation.
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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