Friday, July 9, 2010

20100709 1433 FKLI Mid Day Hourly Chart Study.

FKLI closed : 1328.5 changed : +12 points, volume : high.
Bollinger band reading : upside biased.
MACD Histrogram : rising higher, buyer seized control.
Support : 1325, 1318 ,1310 level.
Resistant : 1330, 1337, 1345 level.
Comment :
Market reacted positively to Bank Negara overnight policy rate hike announcement closing near the high of first session in supportive volume transacted. Hourly chart shows that market opened higher and surged upward with the reading suggesting a upside biased market.

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