Bollinger band reading : pullback correction little upside biased.
MACD Histrogram : weakening, buyer taking profit.
Support : 1458, 1445, 1440, 1435 level.
Resistance : 1470, 1477, 1485, 1491 level.
Comment :
FKLI closed recorded loss with improved volume changed hand doing 4 points discount compare to cash market that closed lower. Overnight U.S. markets plunged lower recorded huge losses and today Asia markets traded severely lower while European markets currently trading little weaker.
Overnight news on Italy may be seeking bailout and China reported weaker exports growth than economists forecast lead market to trade severely lower.
Daily chart formed an up doji bar candle with lower shadow closed above middle Bollinger band level after market opened gap down, plunge lower, recover higher, resume falling and lastly recovered higher again to closed near the high of the day.
Chart reading revised to suggesting a pullback correction little upside biased market development tested support and resistance.
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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