Bollinger band reading : side way range bound.
MACD Histrogram : turned downward, buyer seller battling.
Support : 1470, 1458, 1445, 1440 level.
Resistance : 1477, 1485, 1491, 1500 level.
Comment :
FKLI closed recorded loss with improved but relatively low volume transacted doing about 6 points discount compare to cash market that also closed lower. Overnight U.S. market closed recorded higher and today Asia markets ended mostly lower while European markets currently trading mix.
Asia markets traded mostly lower after Standard & Poor’s said it may cut credit ratings on Germany, France and 13 other members of the euro amid the worsening debt crisis.
Daily chart formed a down bar candle closed in between middle and upper Bollinger band level after market opened lower, slide swing downwards gradually to closed near the low of the day.
Technical study switch to recommending a side day 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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