Bollinger band reading : downside biased with possible pullback correction.
MACD Histogram : falling lower, seller taking exposure.
Support : 1570, 1565, 1550, 1540 level.
Resistance : 1580, 1590, 1595, 1600 level.
Comment :
FKLI closed recorded small gain with rising volume changed hand doing 5.5 points discount compare to cash market that closed slightly lower. Overnight U.S. markets closed lower and today Asia markets rebounded higher after yesterday plunge while European markets also rebounding upward.
Global markets having technical rebound after yesterday recorded severe falls ahead of U.S. consumer confidence and home sales data while unsettle European debts and France political development factor remained investors concern.
Technical chart reading swith to suggesting a downside 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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