Direction for FKLI

23 Eyl 2019

FKLI - Daily chart indicates the index still plagued by weak tone, resistance is strong at 1,600 as we can see attempts to break above this level is proven hard. Downward sloping RSI & softer MACD shall drag the index lower. And there's another risk hovering, the index may risk falling below the pennant formation which will continue to lead further bearishness to unfold. We maintain our bearish view, coming support should be observable at 1,530