Bollinger band reading : pullback correction upside biased.
MACD Histrogram : weakenning weakening buyer taking profit.
Support : 1515, 1505, 1500, 1494 level.
Resistance : 1530, 1540, 1550, 1565 level.
Comment :
FKLI closed recorded gain for the 4th consecutive day with little improved volume participation doing 5 points premium compare to cash market that closed recorded marginal gain. Overnight U.S. market closed little higher and today Asia markets ended higher while European markets also trading higher.
Global markets traded in upbeat mood on coming U.S. corporate earning season, European meeting development and speculation on China will be easing monetary policy after slowing trade data.
Chart study still calling for a pullback correction upside biased market development and seems struggling to test back resistance level near 1532.5.
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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