FKLI closed : 1634 changed : -13 points, volume : higher.
Bollinger band reading : pullback correction upside biased.
MACD Histogram : weakening, buyer taking profit.
Support : 1630, 1623, 1615, 1600 level.
Resistance : 1640, 1650, 1660, 1670 level.
Comment :
FKLI continue to closed weaker with improved volume transacted doing 2 points discount compare to cash market that also ended lower. Last Friday U.S. markets traded lower and today Asia markets closed negatively while European markets currently recording loss.
World markets fall after news on China central bank forecast lower 3rd quarter GDP growth and Euro era record high Spanish 10 year bond yields sending Euro currency to 2 year low against the U.S. dollar(flying high now).
FKLI technical chart continue recommending a pullback correction upside biased market development after recorded gains for 3 consecutive weeks.
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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