Bollinger band reading : pullback correction upside biased.
MACD Histrogram : turned lower, buyer taking profit.
Support : 1505, 1500, 1494, 1485 level.
Resistance : 1515, 1530, 1540, 1550 level.
Comment :
FKLI closed recorded severel losses with rising volume transacted doing less than a point premium compare to cash market that also closed lower. Overnight U.S. market closed recorded gains and today Asia markets ended mixed while European markets trading little lower.
Some markets turned into negative territory after news on China premier statement of "relatively difficult" first quater business condition overshadowed recent improving manufacturing data while European market trading little lower ahead of Germany and Portugal bond auction.
Daily chart formed a wide range down bar candle closed in between upper and middle Bollinger band level after market opened and traded higher followed by downward movement all the way towards the end to closed near the low of the day.
Technical reading suggesting a pullback correction upside biased 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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