FKLI closed : 1421.5, changed : -27 points, volume : higher.
Bollinger band reading : pullback correction little downside biased.
MACD Histrogram : resume falling, seller still in control.
Support : 1420, 1400, 1395, 1385 level.
Resistance : 1425, 1435, 1440, 1445 level.
Comment :
FKLI closed recorded substantial loss surrendered most of yesterday gains with increasing volume transacted doing 10 points discount compare to cash market that also closed lower. Asia markets ended in negative territory while European markets also trading weaker.
News on German chancellor Angela Merkel ruled out joint euro bond and a bigger role for the European Central Bank in fighting the debt crisis, surging European country bond yield and Moody downgraded Hungary's bond to junk resulted global markets to trade negatively.
Daily chart formed a wide range down bar candle closed near lower Bollinger band level after market opened lower, edge little upwards and plunge downwards all the way to closed at the low of the day.
Same old same old, FKLI is still trading in pullback correction phase within a little downside biased development.
When to buy : buy at support or weakness with quick cut loss and profit target.
When to sell : sell at resistance or strength with moderate cut loss and profit target.
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