Bollinger band reading : side way range bound.
MACD Histrogram : recovering, seller leaving.
Support : 1458, 1445, 1440, 1435 level.
Resistance : 1470, 1477, 1485, 1491, 1500 level.
Comment :
FKLI closed recorded gains gains with increased in Dec contract volume participation doing about 5.5 points premium compare to cash market that closed substantially higher. Overnight U.S. market closed little higher and today Asia markets ended mixed while European markets currently trading lower.
Heavy buying activities on index linked stock lifted both KLCI and FKLI to trade higher despite news on S&P cuts U.S. bank's credit ratings. Meanwhile, Thailand cuts interest rate as floods condition needs more easing. Germany reported lower unemployment and better retail sales.
Daily chart formed an up bar candle closed above middle Bollinger band resistance level after market opened and soften little lower followed by upward recovery surging higher all the way into positive territory to closed near the high of the day.
Chart study revised to suggesting a side way range bound 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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