Bollinger band reading : downside biased with possible pullback correction.
MACD Histogram : falling lower, taking position.
Support : 1550, 1540, 1530, 1515 level.
Resistance : 1565, 1570, 1580, 1590 level.
Comment :
FKLI closed recorded substantial loss with increasing volume changed hand doing 13 points discount compare to cash market that closed lower. Last Friday U.S. markets closed lower and today Asia markets ended in negative territory except Japan while European markets currently falling lower.
Global markets sentiments turned bearish after worsening European political condition with Greece possible exit from EU, German Merkel's party lost state election and lower profit forecast from Citibank and JP Morgan despite after China moved to lower bank reserve ratio to stimulate its economy.
Technical chart study revised 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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