Bollinger band reading : upside biased.
MACD Histrogram : turned upward, buyer seller battling.
Support : 1590, 1580, 1570, 1565 level.
Resistance : 1595, 1600, 1610, 1620 level.
Comment :
FKLI settle higher with shrinking volume transacted with Apr contract doing 11.5 point discount compare to cash market that also closed higher. Overnight U.S. markets closed mixed and today Asia markets also ended mixed while European markets currently trading higher.
Mixed development over Japan industrial production unexpectedly declined in February, U.S. grew 3% in Q4 with unemployment fall to 4 year low, European Finance minister meeting on boosting rescue fund and awaits U.S. income and spending data.
Chart reading switched again to suggesting an upside biased market development testing previous high resistance level.
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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