Bollinger band reading : side way range bound.
MACD Histrogram : weakenning, buyer seller on holiday mood.
Support : 1458, 1445, 1440, 1435 level.
Resistance : 1470, 1477, 1485, 1491 level.
Comment :
FKLI closed recorded loss with better but relatively low volume participation doing 3 points discount compare to cash market that closed lower. Overnight U.S. market closed recorded loss and today Asia markets ended weaker while European markets currently trading between gain and losses.
Asia markets trade weaker as Europe Central Bank statement of no further debt purchases and ahead of Europe summit while China reported slower inflation rate for Nov 2011.
Daily chart formed a small up doji bar candle closed below middle Bollinger band level after market opened gap down, recovered upwards tested above middle Bollinger band support turned resistance level and moved side way range bound towards the end to closed near off the high of the day.
Chart wise still suggesting 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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