Tuesday, December 15, 2009

20091215 1338 FKLI Mid Day Hourly Chart Study.



Also a quite market for FKLI that closed the first session a little weaker at 1263 down 2.5 points. Traded mostly side way within a 2 points range ping pong game, the last hourly candle still remained above the middle Bollinger band with the band width turned wider = upside biased side way ranging market. MACD Histrogram recorded a weaker reading = buyers closing some position to locked in profit. Boring sideway market ahead with immediate support at the middle Bollinger band and resistant at the upper downward channel line.

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