Bollinger band reading : pullback correction upside biased.
MACD Histogram : falling lower, seller testing market.
Support : 1640, 1630, 1623, 1615 level.
Resistance : 1650, 1660, 1670, 1680 level.
Comment :
FKLI closed little lower with better volume distributed almost on par with cash market that closed recorded marginal loss for the 5th consecutives day. Overnight U.S. markets closed weaker and today Asia markets ended mixed while European markets currently trading little lower.
News on U.S. weaker consumer confidence and better home prices data resulted world market to trade between gains and losses while awaits U.S. Federal Reserve's chairman Benanke speech on Friday.
Again, FKLI technical chart analysis remained calling a pullback correction upside biased market development testing middle Bollinger band support level.
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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