20120223 1741 FKLI EOD Daily Chart Study.

FKLI closed : 1557.5, changed : +0.5 points, volume : lower.
Bollinger band reading : correction range bound upside biased.
MACD Histrogram : falling, buyer reducing position.
Support : 1550, 1540, 1530, 1515 level.
Resistance : 1565, 1570, 1580, 1590 level.
Comment :
FKLI closed 1 tick higher with lesser volume exchanged doing about 1 point premium compare to cash market that closed little lower. Overnight U.S. markets closed little lower and today Asia markets ended mostly lower while European markets currently registering small gain.
Global markets traded mixed after weaker Yen, China lower economic growth for this year and improved German business confidence development.
Technical analysis remained suggesting a correction range bound upside biased market development with MACD indicator having negative crossed down.
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.