Bollinger band reading : correction range bound little upside biased.
MACD Histogram : falling lower, buyer leaving as seller testing market.
Support : 1590, 1580, 1570, 1565 level.
Resistance : 1595, 1600, 1610, 1620 level.
Comment :
FKLI closed rebounded higher with rising volume transacted doing 7 points discount compare to cash market that also ended higher. Overnight U.S. markets closed falling 1% and today Asia markets having mixed development while European markets currently trading lower.
Global markets traded indecisively after news on slower than estimates U.S. job growth, Bank of Japan left interest rate unchanged and China reported unexpected trade surplus due to slower imports.
Daily chart reading suggesting FKLI to trade in 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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