Bollinger band reading : upside biased.
MACD Histrogram : recovering, buyer testing market.
Support : 1580, 1570, 1565, 1550 level.
Resistance : 1590, 1600, 1610, 1620 level.
Comment :
FKLI corrected little lower with soaring volume transacted doing 0.5 point premium compare to cash market that closed nearly unchanged. Overnight U.S. markets closed little lower and today Asia markets remained having mixed development while European markets currently falling lower.
Regional having mixed reaction on improved U.S. housing data, concern over lower U.S. company profit, China moves to lower reserve requirement for agriculture bank and a survey data shows that China manufacturing may contract for the month of March.
Back home, FKLI testing news week high and retreat lower after lower GDP growth forecast for this year with daily chary reading remained suggesting an 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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