20120313 1815 FKLI EOD Daily Chart Study.

FKLI closed : 1565.5 changed : +0.5 point, volume : higher.
Bollinger band reading : correction range bound little upside biased.
MACD Histrogram : falling lower, seller taking exposure.
Support : 1565, 1550, 1540, 1530 level.
Resistance : 1570, 1580, 1590, 1600 level.
Comment :
FKLI closed 1 tick higher with increasing volume transacted doing 1.5 point premium compare to cash market that closed little lower. Overnight U.S. markets closed firmer and today Asia markets rebounded higher while European markets currently soaring higher.
Regional markets traded higher as European leader gather to complete 2nd bailout for Greece, speculation on China will ease policy to spur growth and improved Germany investors confidence while awaits U.S. retail sales data.
Technical chart analysis remained calling a correction range bound little upside biased market development testing resistance near middle Bollinger band 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.