Thursday, June 14, 2012

20120614 1734 FKLI EOD Daily Chart Study.

FKLI closed : 1569 changed : -3.5 points, volume : lower.
Bollinger band reading : correction range bound little upside biased.
MACD Histogram : weakening, buyer seller battling.
Support : 1570, 1565, 1550, 1530, 1515 level.
Resistance : 1570, 1580, 1590, 1600, 1610 level.
Comment :
FKLI closed weaker with dying volume changed hand doing about 2 points discount compare to cash market that closed lower. Overnight U.S. markets retreat lower and today Asia markets ended in negative zone while European markets currently falling lower.
World markets slide lower after sentiment turned negative on Spain credit rating downgrade by Moody's, Credit Suisse and Deutsche Bank lower China growth forecast plus overnight U.S. reported lower retail sales.
FKLI daily chart reading recommending a correction range bound little upside biased market development possibly testing support level near middle Bollinger band.
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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