FKLI - Congesting Range On the left daily chart, FKLI is forming a head and shoulder like formation which seen recent high 1807.5 almost symmetrically to Aug high. The formation was not confirmed and will be invalid if price make higher high and price did not fall below 1764.5. Daily ATR (Average True Range) seen FKLI daily range at 6 months low. Intra day trader may found difficulties on intraday trading if the range continue to congest.
As the daily chart suggest, the correction in intraday is expect to be tightening range if without breakout. The current ATR in 30 minutes time frame at only 2.5 points. Current price resistance at 1800, price above 1800 may see expanding range. Sideway range between 1799 to 1787.
