Bollinger band reading : upside biased.
MACD Histogram : rising, buyer in control.
Support : 1610, 1600, 1590, 1580 level.
Resistance : 1620, 1630, 1640, 1650 level.
Comment :
FKLI closed firmer with lesser volume exchanged hitting new year high doing 3 points premium compare to cash market that closed recoded moderate gain. Overnight U.S. markets closed higher and today Asia markets ended mixed while European markets currently having negative development.
Beat estimates U.S. factor orders data and bets on stimulus measure to be implement send U.s. and some Asia exchange trading firmer while European market declining on some industries survey conducted below median forecast.
Daily chart study remained calling an upside biased market development after managed to break resistance near 1615.5 level that turned support.
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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