Tuesday, June 12, 2012

20120612 1737 FKLI EOD Daily Chart Study.

FKLI closed : 1574.5 changed : -5.5 point, volume : lower.
Bollinger band reading : side way range bound little upside biased.
MACD Histogram : turned downward, buyer seller battling.
Support : 1570, 1565, 1550, 1530 level.
Resistance : 1580, 1590, 1600, 1610 level.
Comment :
FKLI closed lower surrendered most of yesterday gain with getting lesser volume traded doing 2 points discount compare to cash market that closed little lower. Overnight U.S. markets closed lower by more than 1% and today Asia markets also ended in red while European markets currently trading higher.
Skepticism over Spain's banks bailot will help tame European debt crisis after higher Spanish bond yeilds resulted global markets to surrender some of yesterday gains. China on the other hand continue to reports positive data on better than forecast bank loans.
Daily chart reading remained calling a side way range bound little 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.

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