20120323 1746 FKLI EOD Daily Chart Study.

FKLI closed : 1588 changed : +4 points, volume : lower.
Bollinger band reading : correction range bound upside biased.
MACD Histrogram : recovering, buyer testing market.
Support : 1580, 1570, 1565, 1550 level.
Resistance : 1590, 1600, 1610, 1620 level.
Comment :
FKLI closed recorded small gain with slower volume exchanged doing 2 points premium compare to cash market that closed little higher. Overnight U.S. markets closed weaker and today Asia markets traded mixed for the 3rd day while European markets opened and trading little higher.
Regional markets traded mixed awaits U.S. new home sales data and after slowing Europe area manufacturing data plus China 3td largest bank reported drop in profit amid slower growth.
FKLI daily chart study revised to suggesting a correction range bound upside biased market development.
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.