Bollinger band reading : upside biased with possible pullback correction.
MACD Histrogram : rising, buyer in control.
Support : 1550, 1540, 1530, 1515 level.
Resistance : 1565, 1570, 1580, 1590 level.
Comment :
FKLI closed rallied higher recorded gains for the 5th consecutive trading days with thin volume changed hand doing 6.5 points discount compare to cash market that also surged higher. Overnight U.S. markets closed recorded small gain and today Asia markets having mixed development while European markets currently trading in positive territory.
Global markets reacted differently awaits Greece second bailout discussions and European Central Bank and Bank of England policy decisions announcement.
Daily chart technical reading remained suggesting an upside biased market development with potential pullback correction with MACD indicator having positive crossed up to the second day.
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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