Bollinger band reading : little downside biased with possible pullback correction.
MACD Histrogram : falling, seller taking exposure.
Support : 1400, 1395, 1385, 1375 level.
Resistance : 1420, 1425, 1435, 1440 level.
Comment :
FKLI closed recorded massive loss with increasing volume exchanged doing huge 19.5 points discount compare to cash market that closed lower. Overnight U.S. markets ended mixed and today Asia markets closed lower while European markets currently trading in negative territory.
Fear of unsolve European debts problem may further affect American banks, U.S. congress may fail to reach agreement to reduce the nation’s budget deficit and Singapore trade minister statement of slower economy growth resulted substantial sell down in global equity markets.
Daily chart formed a down bar candle closed outside lower Bollinger band after market opened gap down, slide downward gradually followed by last one and a half hour selling activities pressed market to closed near the low of the day.
Technical chart reading adjusted to suggesting a little downside biased market development with possible technical rebound.
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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