Bollinger band reading : pullback correction upside biased.
MACD Histrogram : turned upward, buyer still in control.
Support : 1477, 1470, 1458, 1445 level.
Resistance : 1485, 1491, 1500, 1505 level.
Comment :
FKLI closed recorded huge gains with lower volume transacted doing 3 points premium compare to cash market that also closed higher. Overnight U.S. markets closed higher and today Asia markets recorded gains while European markets currently trading mostly higher.
News on unexpedted European Central Bank rate cut and increase U.S. factory orders lifted global markets to trade higher. However, uncertainty factors to wacth on will be G20 meeting annoucement, Greece development and market awaits U.S. October unemployment data.
Daily chart formed an up bar candle with lower shadow closed in between upper and middle Bollinger band level after market opened higher, traded range bound within 10 points range followed by last minutes short covering activities pushed market to closed near the high of the day.
chart reading conitnue to suggesting a pullback correction upside biased market development doing 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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