Bollinger band reading : correction range bound upside biased.
MACD Histrogram : falling lower, seller testing market.
Support : 1515, 1505, 1500, 1494 level.
Resistance : 1530, 1540, 1550, 1565 level.
Comment :
FKLI closed recorded loss with improved but relatively quiet volume participation doing 5 points premium compare to cash market that closed marginally lower. Overnight U.S. market closed recorded gain and today Asia markets ended higher while European markets also registering gain.
Global market traded in positive tone on hope that China will take measure to ease monetary policy and ahead of Spain and France bonds auction.
Chart study still suggesting a correction range bound upside biased market development with immediate support near middle Bollinger band.
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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