Bollinger band reading : pullback correction upside biased.
MACD Histogram : turned downward, buyer locking profit.
Support : 1600, 1590, 1580, 1570 level.
Resistance : 1610, 1620, 1630, 1640 level.
Comment :
FKLI closed 1 tick lower with better volume traded doing 3 points discount compare to cash market that closed marginally higher. Overnight U.S. markets plunged lower and today Asia markets ended mostly lower while European markets currently having negative development.
Yesterday negative sentiment continues today as U.S. reported below estimate home sales, manufacturing and jobs data while Germany reported drop in business confident.
FKLI daily chart reading remained suggesting a pullback correction upside 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.
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