Bollinger band reading : correction range bound little upside biased.
MACD Histrogram : falling lower, seller taking exposure.
Support : 1565, 1550, 1540, 1530 level.
Resistance : 1570, 1580, 1590, 1600 level.
Comment :
FKLI closed recorded loss with little improved volume exchanged near on par with cash market that also closed lower. Last Friday U.S. markets closed slightly higher and today Asia markets ended mostly in negative side while European markets currently trading little lower.
Most global markets pullback lower after recent rally after news on China reported slower than estimate export growth despite better Japan machinery orders and U.S. jobs data.
Daily chart reading adjusted to recommending a correction range bound little upside biased market development.
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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