Bollinger band reading : correction range bound little upside biased.
MACD Histogram : turned upward, seller stayed cautious.
Support : 1640, 1630, 1623, 1615 level.
Resistance : 1650, 1660, 1670, 1680 level.
Comment :
FKLI closed little higher with quiet volume traded doing 5 points discount compare to cash market that closed nearly unchanged. Overnight U.S. markets closed for Labor day holiday and today Asia markets ended mostly lower while European markets currently trading little lower.
Concern on lower earnings and further slowdown restores after EU economy outlook cut by Moody's Investors Services sent most markets traded lower while investor await U.S. manufacturing data.
However, FKLI daily chart reading remained calling a correction range bound little upside biased market development with immediate support stayed at middle Bollinger band 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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