Bollinger band reading : pullback correction downside biased.
MACD Histogram : falling lower, seller taking exposure.
Support : 1570, 1565, 1550, 1540 level.
Resistance : 1580, 1590, 1595, 1600 level.
Comment :
FKLI closed little lower with declined volume transacted doing 5 points discount compare to cash market that closed marginaly higher. Overnight U.S. markets closed higher and today Asia markets also ended recorded gains while European markets trading higher.
Global markets rise after overnight U.S. Federal Reserve statement that they are prepared to provide more stimulus measure if needed and some global company earnings report beat estimates. Having said that, China market ended lower as lower corporate earnings concern overshadow positive news from the U.S.
Daily chart analysis adjusted to suggesting a pullback correction downside 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.
No comments:
Post a Comment