Thursday, October 15, 2009

20091015 1452 FKLI Hourly Chart Study. Give it some rest !



FKLI closed 1 point higher at 1252.5 after hitting another high at 1257.5 in the morning session.
Most of the regional market also gapped up higher at retraced back to lower level. Hourly chart wise, price still trading above mid Bollinger Band = Bull still rules. Bollinger Band width has stop expanding indicate that market would need some rest after some mountain climbling workout. The rest also agreed by MACD Histrogram that falled to near zero line level. Overall, market would take a rest for some rest before gaining enough stamina to move up further. Question now is how long would the market take this rest ? Sorry for the late posting :)

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