Bollinger band reading : downside biased with possible pullback correction.
MACD Histogram : falling lower, seller in control.
Support : 1515, 1500, 1485, 1470 level.
Resistance : 1530, 1540, 1550, 1565 level.
Comment :
FKLI closed down sharply with pilling up volume transacted doing 12.5 points discount compare to cash market that also closed significantly lower. Overnight U.S. markets continue to closed lower and today Asia markets ended poorly while European markets currently trading lower.
News on Greece move to call new election triggered regional investors to press the sell button again resulted global markets to closed poorly.
Technical chart analysis still calling a downside biased market development with possible pullback correction. Additional to that, the last 3 daily candle has formed a "Three Black Crows" candle stick formation which indicate a bearish signal.
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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