Friday, October 21, 2011

20111021 1734 FKLI EOD Daily Chart Study.

FKLI closed : 1435.5, changed : +5 points, volume : lower.
Bollinger band reading : pullback correction little upside biased.
MACD Histrogram : weakenning, buyer lock in profit and reduce exposure.
Support : 1425, 1420, 1400, 1395 level.
Resistance : 1440, 1445, 1458, 1470 level.
Comment :
FKLI closed recorded gain with slower volume changed hand doing 3 points discount compare to cash market that closed recorded small loss. Overnight U.S. markets closed little higher and today Asia markets closed mixed while European markets opened and currently trading higher.
Global markets awaits development from the Europe Crisis Summits as policy makers discussed unleashing $1.3 trillion in funds to help contain the euro area’s debt crisis.
Daily chart formed a down doji bar candle closed in between middle and upper Bollinger band level after market lower opened higher, slide downward and traded range bound before resume climbing higher followed by sudden downward dive cause by cash market suddenly recording loss by more than 60 pver points(cause still unknown) and stabilised little higher towards market closed.
FKLI still trading in pullback correction phase within a little upside biased market development testing support and resistance level.
When to buy : buy at support or weakness with quick cut loss and profit target.
When to sell : sell at resistance or strength with quick cut loss and profit target.

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