Friday, July 16, 2010

20100716 1300 FKLI Mid Day Hourly Chart Study.

FKLI closed : 1338.5 changed : +1.5 point, volume : low.
Bollinger band reading : side way range bound downside biased.
MACD Histrogram : recovering, buyer seller not much action.
Support : 1337, 1330, 1325 level.
Resistant : 1345, 1350, 1360 level.
Comment :
Weekend mood light volume FKLI ended little higher as market struggling to determine it direction due to lack of catalyst and news despite a hike in petrol price announcement. Hourly chart shows that price tested lower support level but buyer seems still defending their position. Outlook wise, the reading is suggesting a side way range bound little downside biased market.

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