Bollinger band reading : pullback correction upside biased.
MACD Histogram : turned downward, buyer taking profit.
Support : 1620, 1610, 1600, 1590 level.
Resistance : 1630, 1640, 1650, 1660 level.
Comment :
FKLI closed recorded loss after hitting new year high again with declined volume changed hand doing 2 points discount compare to cash market that closed little lower. Overnight U.S. markets continue to closed weaker and today Asia markets ended registered loss while European markets currently trading lower.
World market sentiment remained negative after news on U.S. Federal Reserve failed to signal more measures to spur economy, South Korea cut interest rate unexpectedly and surprising lower employment rate recorded in Australia.
FKLI technical chart reading adjusted to calling 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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