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 loss for the 3rd day with slower transacted doing 9.5 points discount compare to cash market that closed little lower. Overnight U.S. markets rebounded higher recorded gains and today Asia markets traded mostly higher while European markets currently trading higher.
Lower U.S. jobless claims and no further bad news from European zone for now resulted most global market to rebound higher after previous slump. Back home, market sentiment turned negative over convincing news on paper shows reasons of no general election for this year.
Daily chart formed a down doji bar candle closed below middle Bollinger band support level after market opened lower, edge upwards into positive territory followed by 2nd session falls lower the closed near the low of the day.
Chart study remained suggesting a pullback correction little upside biased market development with MACD indicator having negative cross down.
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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