Bollinger band reading : pullback correction little downside biased.
MACD Histrogram : falling, seller taking exposure.
Support : 1420, 1400, 1395, 1385 level.
Resistance : 1425, 1435, 1440, 1445 level.
Comment :
FKLI closed recorded gains with soaring volume transacted doing 14 points discount compare to cash market that ended little higher. Overnight U.S. markets ended recorded loss and today Asia markets closed mixed while European markets currently rebounding higher after overnight recorded huge losses.
Standard & Poor and Moody's rating agency reaffirmed U.S. credit rating despite negative development over U.S. decifit cut plan and unsolved European debt problem and World Bank statement on Asia can withstand Europe shocks and sees soft landing for China resulted some markets to rebounding higher.
Daily chart formed an up bar candle with upper shadow still closed outside lower Bollinger band after market opened lower and traded in recovery upwards swing movement into positive territory and eased little lower to closed off the high of the day.
Chart study adjusted to suggesting a pullback correction little downside biased market development having technical rebound 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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