Bollinger band reading : upside biased with possible pullback correction.
MACD Histogram : rising higher, buyer in control.
Support : 1600, 1590, 1580, 1570 level.
Resistance : 1610, 1620, 1630, 1640 level.
Comment :
FKLI closed firmer with slower volume changed hand doing 3 points premium compare to cash market that also climb higher. Overnight U.S. markets closed higher and today Asia markets ended mostly higher while European markets currently having mixed development.
News on G-20 leaders meeting on support economic growth and help overcome Europe's debt crisis, speculation on China and U.S. stimulus measures send most regional market higher while investors awaits U.S. Federal Reserve monetary policy meeting tonight.
FKLI daily chart reading remained recommending an upside biased market development with possibly pullback correction after breaking recorded new year high of 1608.5.
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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