Bollinger band reading : pullback correction little downside biased.
MACD Histrogram : falling, seller taking exposure.
Support : 1400, 1395, 1385, 1375 level.
Resistance : 1420, 1425, 1435, 1440 level.
Comment :
FKLI closed recorded loss with decreased volume participation doing 14.5 points discount compare to cash market that ended lower. Overnight U.S. markets ended recorded small loss and today Asia markets closed recorded loss while European markets currently swing between gain and losses.
Slower than estimates U.S. 2% GDP reported, reports on possible slowing China manufacturing for this month and higher European bond yield send global markets lower. Markets also awaits tonight U.S. durable goods order and personal spending reports.
Daily chart formed a down doji bar candle positioned at lower Bollinger band level after market opened and traded lower followed by last hour upward recovery before eased little lower to closed off the high of the day.
Technical reading remained suggesting a pullback correction little downside biased market development 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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