Bollinger band reading : correction range bound upside biased.
MACD Histogram : weakenning, buyer taking profit.
Support : 1590, 1580, 1570, 1565 level.
Resistance : 1600, 1610, 1620, 1630 level.
Comment :
FKLI closed recorded loss snapping back yesterday gains with lesser volume transacted doing 2 points discount compare to cash market that closed lower. Overnight U.S. markets firmer and today Asia markets ended mixed while European markets currently trading lower.
Global market reacted differently on uncertainty ahead of 2 day EU summit meeting and news on better than estimated U.S. home sales and durable goods order data. Back home, Felda Global Ventures debut recorded good performance after closed 16.5% higher(at least much better than FACEBOOK) failed to lead local cash and futures market higher.
Daily chart analysis adjusted to suggesting a correction range boung 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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