20120412 1738 FKLI EOD Daily Chart Study.

FKLI closed : 1593 changed : +2.5 points, volume : higher.
Bollinger band reading : correction range bound upside biased.
MACD Histogram : turned upward, buyer seller battling.
Support : 1590, 1580, 1570, 1565 level.
Resistance : 1595, 1600, 1610, 1620 level.
Comment :
FKLI closed firmer with increasing volume participation doing 8 points discount compare to cash market that closed higher above 1600 level. Overnight U.S. markets closed rebounded higher after Tuesday severe fall and today Asia markets closed higher while European markets trading little higher.
Global market rebounded today on hope of China easing monetary policy and after U.S. Federal Reserve economy continues growth outlook.
Technical chart analysis adjusted 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.