FKLI closed : 1603.5 changed : -4.5 points, volume : higher.
Bollinger band reading : downside biased with possible pullback correction.
MACD Histogram : falling lower, seller in control.
Support : 1600, 1595, 1590, 1575 level.
Resistance : 1615, 1623, 1630, 1640 level.
Comment :
FKLI closed recorded loss again with better volume traded doing about 9 points discount compare to cash market that also closed lower. Overnight U.S. market closed declined lower and today Asia markets ended mixed while European markets currently trading lower.
Sentiment continue to stayed weak during morning session as concern now come back to focus on unsolved European debt development followed by afternoon recovery as investors hold on hope on U.S. Federal Reserve will boost economic stimulus.
FKLI daily chart study continue to calling a downside biased market development with possible pullback correction after 1600 support still defending.
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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