Bollinger band reading : upside biased.
MACD Histrogram : recovering, buyer seller battling.
Support : 1580, 1570, 1565, 1550 level.
Resistance : 1590, 1600, 1610, 1620 level.
Comment :
FKLI rallied higher with little improved volume changed hand doing 4 points premium compare to cash market that also closed higher. Overnight U.S. markets closed recorded loss and today Asia markets still traded mixed while European markets currently trading little higher.
Mixed development over slowing China nad India growth with improved U.S. home sales data and latest Greece parliment approved 130 billion bailout resulted global market to trade indecisively.
Back home, FKLI rallied higher with daily chart study revised to suggesting an upside biased market development possibly testing resistance near upper Bollinger band. (Wild guess : perhaps GE is near and now is the pre rally ?? )
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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