FKLI closed : 1639 changed : +10 points, volume : higher.
Bollinger band reading : pullback correction upside biased.
MACD Histogram : falling lower, buyer taking profit.
Support : 1630, 1623, 1615, 1600 level.
Resistance : 1640, 1650, 1660, 1670 level.
Comment :
FKLI closed rebounded higher with getting better volume changed hand doing 4 points premium compare to cash market closed little higher. Overnight U.S. markets continue to closed weaker and today Asia markets traded mostly lower while European markets currently registering small gains.
Asia markets traded mostly weaker today after news on IMF statement of China’s economy faces significant downside risks, raising worries on unsolved European debt crisis and missed estimates Apple Ins earnings report sent supplier stocks lower.
FKLI daily chart study still calling a pullback correction upside biased market development with middle Bollinger band support level remained intact.
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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