FKLI (15 minutes chart)
The FKLI made a breakout of the consolidation on the 15 minutes chart. However, resistance is found at 1510 bringing prices lower and close at 1501 for the week. The short term downtrend line has been violated while it doesnt suggest a strong up trend ahead. However, overall sentiment is relatively upward bias though.
Immediate resistant : 1510
Immediate support : 1492
FKLI (weekly chart)
A longer term outlook on the index futures signal that consolidation still remain as an option amid the previous strong upward momentum. The medium term uptrend line has yet to be violated therefore reserve the option for a downtrend in near term.
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