Hi All, I am back again..
FKLI Spot rebounded from 1630 region and broke out from its breakout level of 1640 this morning just before lunch break. And managed to rally and closed at 1649, which is also the highest of the day.
Will it be able to rally upwards breaking past its resistance price as well as the historical high region? It is just 7 points behind its historical high, and we FKLI will be setting a new high again soon, if it breaks up successfully.
If we look at the volume done since the past few days, especially the long tail candlestick, which could be seen with the green arrow pointed, before the spike / rally of FKLI, the volume shown at the bottom isn't significantly high to provide it a strong base. The same goes for the next couple of days until today. Volume shown is not interestingly high to signify a strong upward momentum.
For the time being;
Resistance @ 1655 - 57.5
Support @ 1643 - 33.
No comments:
Post a Comment