Bollinger band reading : downside biased.
MACD Histogram : resumed falling again, seller still in.
Support : 1570, 1565, 1550, 1540 level.
Resistance : 1580, 1590, 1595, 1600 level.
Comment :
FKLI closed recorded loss with rising volume transacted doing 9 points discount compare to cash market that closed little lower. Overnight U.S. markets closed little higher having technical rebound and today Asia markets ended recorded loss while European markets drifting between gain and losses.
Global markets sentiment stayed negative after news on market shocking JP Morgan announcement of 2 billion trading losses, China reported lower inflation rate and slower industrial production growth plus Greece governmenr forming process.
Daily chart analysis revised to calling a downside biased market development pending a triangle break down.
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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