Bollinger band reading : pullback correction upside biased.
MACD Histrogram : falling lower, buyer leaving and seller testing market.
Support : 1515, 1505, 1500, 1494 level.
Resistance : 1530, 1540, 1550, 1565 level.
Comment :
FKLI closed rebounded higher after yesterday substantial falls with slower volume exchanged doing 3 points premium compare to cash market that also closed higher. Overnight U.S. market closed for holiday and today Asia markets ended in positive territory while European markets also currently registering gains.
Global market traded positively after France bond auction recorded lower borrowing yield and anticipation of easing monetary policy aftr China recorded slowest GDP since 2009.
Chart reading suggesting that market seems facing temporary support near middle Bollinger band level and rebounding from there possibly testing previous resistance level with MACD indicator having negative cross 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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