Friday, December 11, 2009

20091211 1304 FKLI Mid Day Hourly Chart Study.



A one day up one day down FKLI market closed 3 points higher at 1257 in unison with major Asia market. Chart wise, price managed to hold above the middle Bollinger band with the band width stay flat = ranging market. The last 3 MACD Histrogram bar retreated marginally = selling pressure came in. With such a thin volume transacted and ahead of the weekend market is expected to trade sideway ranging with a little upside biased movement in the second session. Support stands at the middle and lower Bollinger band. 

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