Bollinger band reading : correction range bound upside biased.
MACD Histogram : weakenning, buyer taking profit.
Support : 1600, 1590, 1580, 1570 level.
Resistance : 1610, 1620, 1630, 1640 level.
Comment :
FKLI closed recorded marginal loss with better volume traded doing 3 points premium compare to cash market that closed slightly higher. Last Friday U.S. markets closed rallied higher and today Asia markets ended mostly higher while European markets currently recording gains.
Sentiment improved for the time being as European leaders meeting agreed to counter debt problem with easing measure and taking steps to boots growth while Japan's Tankan survey and China purchasing manager's index data beat estimates.
Daily chart study remained suggesting a correction range boung upside biased market development with price still trading within a upward price channel.
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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