Bollinger band reading : pullback correction little upside biased.
MACD Histrogram : falling, buyer closing position.
Support : 1458, 1445, 1440, 1435 level.
Resistance : 1470, 1477, 1485, 1491 level.
Comment :
FKLI closed recorded gains with declining volume participation doing 8 points discount compare to cash market that closed higher. Friday night U.S. markets ended higher recorded gains and today Asia markets climb higher mostly while European markets currently trading higher.
Improving Japan economy growth after earthquake, new Greece and Italy government formation and sign of China soft landing policy lifted global markets higher.
Daily chart formed a down doji bar candle closed above middle Bollinger band support level after market opened higher and trade side way range bound followed by last hour downward eased to closed near the low of the day.
Technical reading study remained suggesting a pullback correction little 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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