Bollinger band reading : upside biased with possible pullback correction.
MACD Histrogram : rising, buyer in advantage.
Support : 1580, 1570, 1565, 1550 level.
Resistance : 1590, 1600, 1610, 1620 level.
Comment :
FKLI closed rallied higher with little improved volume transacted doing 3 points premium compare to cash market that also closed higher. Overnight U.S. markets closed little higher and today Asia markets ended in positive zone while European markets swing between gains and losses.
U.S. 4 year low jobless claims and news on European leaders agreed to speed up providing bailout fund to ease debt crisis push global markets higher.
Daily chart analysis switch to suggesting upside biased market development with possible pullback correction. MACD indicator also having positive crossed up.
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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