Monday, November 2, 2009

20091102 1033 FKLI Monthky Chart Study.



FKLI Monthly Chart ended still above mid Bollinger band and inside a narrowing Bollinger band width with the last 2 candle showing topping tails = market upward movement are in exhaustion. However, MACD Histrogram continue to rise higher supported by higher transacted volume compare to last month = buying momentum persisted. Should Bollinger band continue to narrow and MACD Histrogram stayed unchanged or higher, market are likely to trade side way range bound or some downward correction.

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