Bollinger band reading : side way range bound.
MACD Histrogram : falling, buyer seller battling.
Support : 1458, 1445, 1440, 1435 level.
Resistance : 1470, 1477, 1485, 1491 level.
Comment :
FKLI closed 1 tick lower with quiet volume changed hand on par with cash market that closed maginally lower. Overnight U.S. market closed recorded loss and today Asia markets ended lower while European markets currently trading between gain and losses.
Unsolved European sovereign debt problem, Fitch ratings joined Moody's in warning to lower European debt rating plus slower Intel sales forecast send most regional markets to trade lower. Market also awaits U.S. federal rate change decision.
Daily chart formed an up doji bar candle closed above middle Bollinger band level after market opened lower, edge upwards slowly towards the end before easing lower to closed off the high of the day.
Chart reading remained suggesting a side way range bound market development testing support and resistance level with MACD indicator having negative crossed down.
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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