Bollinger band reading : pullback correction upside biased.
MACD Histrogram : turned lower, buyer taking profit.
Support : 1515, 1505, 1500, 1494 level.
Resistance : 1530, 1540, 1550, 1565 level.
Comment :
FKLI closed slightly higher with decreasing volume transacted doing 2.5 points premium compare to cash market that closed recorded gain. Last Friday U.S. market closed lower and today Asia markets ended mixed while European markets trading mostly lower.
Global market traded mixed ahead of Germany and France leader meeting while news on increased China lending and money supply resulted some Asia market to trade higher.
Daily chart formed a small up bar candle closed below upper Bollinger band level after market opened lower, edge upwards and moved side ways until the end to closed near the high of the day.
Chart study remained 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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