Tuesday, August 10, 2010

20100810 1315 FKLI Mid Day Hourly Chart Study.

FKLI closed : 1359.5, changed : -6 points, volume : low.
Bollinger band reading : downside biased.
MACD Histrogram : getting lower, buyer book in partial profit.
Support : 1350, 1345, 1337 level.
Resistant : 1360, 1375, 1385 level.
Comment :
FKLI decline lower in thin tranding volume as buyer decide to realized profit in tandem with Asia regional market negative development. Hourly chart wise, market opened unchanged and managed to test and stayed below support level for lunch with the reading suggesting a near term downside biased market development.

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