Bollinger band reading : pullback correction upside biased.
MACD Histrogram : falling lower, buyer leaving while seller testing market.
Support : 1570, 1565, 1550, 1540 level.
Resistance : 1580, 1590, 1600, 1610 level.
Comment :
FKLI closed recorded small gain with thin volume traded nearly on par with cash market that also closed little higher. Overnight U.S. markets rebounded higher and today Asia markets ended in positive territory while European markets currently soaring higher.
Showing progress over Greece debt swap deal that reach deadline tonight, increased U.S. company hiring activities and Japan economy slowing less than government estimated resulted global markets to edge up higher.
Daily chart study still suggesting a pullback correction upside biased market development with MACD indicator having negative crossed 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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