Bollinger band reading : side way range bound.
MACD Histrogram : turned upward, buyer seller battling.
Support : 1505, 1500, 1494, 1485 level.
Resistance : 1515, 1530, 1540, 1550 level.
Comment :
FKLI closed rebounded higher after yesterday slump with lower volume changed hand with Feb 2012 contract doing 7.5 points discount compare to cash market that closed higher. Overnight U.S. market closed recorded marginal loss and today Asia markets traded higher while European markets current trading little higher.
Most European leader agreed on fiscal policy. progress over Greece debt deal and increased in Japan industrial production resulted global markets to rebound higher.
Technical reading suggesting a side way range bound 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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