Bollinger band reading : little upside biased.
MACD Histrogram : rising, buyer testing market.
Support : 1470, 1477, 1458, 1445 level.
Resistance : 1485, 1491, 1500, 1505 level.
Comment :
FKLI closed recorded substantial gains with better volume transacted doing about 1.5 point discount compare to cash market that closed rallied higher. Overnight U.S. market closed higher and today Asia markets closed mostly higher while European markets currently trading in positive territory.
Global markets traded positively after news on European Central Bank provides funding for banks, China pledged support for exporters and small businesses and improved U.S. and German economic data.
Daily chart formed a down doji bar candle with longer upper shadow closed in between upper and middle Bollinger band level after market opened gap up, surged higher and retreated lower followed by side way range bound movement towards the end to closed near the low of the day.
Chart reading revised to suggesting a little upside biased market development for the near term with MACD indicator having slightly positive crossed up.
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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