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 soar higher with lower volume exhcanged with July contract closed doing 4.5 points premium compare to cash market that closed higher. Overnight U.S. markets closed little lower and today Asia markets ended positively while European markets currently trading substantially higher.
Half yearly window dressing activities and news on European leader agreed to eased repayment rules for Spanish banks, relaxed condition for possible aid to Italy and $120 billion euros growth plan for the European region economy push world markets higher despite U.S. reported stubbornly jobless data and 1st quarter GDP stood at 1.9% .
Technical chart reading remained 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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