Bollinger band reading : pullback correction little upside biased.
MACD Histogram : falling lower, buyer closing position.
Support : 1623, 1615, 1600, 1595 level.
Resistance : 1630, 1640, 1650, 1660 level.
Comment :
FKLI closed recorded gain with lesser volume transacted doing 3.5 point discount compare to cash market that soared higher. Last Friday U.S. markets rallied higher again and today Asia markets closed mostly higher while European markets currently trading in positive territory.
News on ECB and European leader pledged to support the Euros, better than expected U.S. corporate earnings, China to implement more infrastructure project and better than forecast U.S. GDP(declined) reported send global market trading higher.
FKLI daily chart reading revised to suggesting a pullback correction little 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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