Bollinger band reading : upside biased with possible pullback correction.
MACD Histrogram : recovering, buyer taking exposure.
Support : 1595, 1590, 1580, 1570 level.
Resistance : 1600, 1610, 1620, 1630 level.
Comment :
FKLI closed recorded gains with improved volume participation doing 6 points discount compare to cash market that advance higher. Last Friday U.S. markets closed higher and today Asia markets ended mostly in positive zone while European markets trading little lower.
Overall global market development still uncertain after stronger than forecast U.S. consumer spending and confident data, Europe unemployment reached 14 years high, European finance firewall development and speculation on China will not ease monetary policy due to improving U.S. economy.
Technical study revised to recommending an upside biased market development with possible pullback correction.
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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