Bollinger band reading : side way range bound with possible pullback correction.
MACD Histogram : resume falling, seller taking exposure.
Support : 1630, 1623, 1615, 1600 level.
Resistance : 1640, 1650, 1660, 1670 level.
Comment :
FKLI closed recorded substantial loss with increased volume changed hand doing 6 points discount compare to cash market that also closed lower. Overnight U.S. market traded lower and today Asia markets ended weaker again while European markets currently having mixed development.
Negative sentiment picking up across the world after overnight U.S. manufacturing declined, today lower China PMI reported and Australia slower than expected 2nd quarter economy growth while investors focus on ECB policy meeting.
FKLI daily chart reading revised to suggesting a side way range bound with possible pullback correction.
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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