Friday, June 15, 2012

20120615 1729 FKLI EOD Daily Chart Study.

FKLI closed : 1582.5 changed : +13.5 points, volume : higher.
Bollinger band reading : correction range bound little upside biased.
MACD Histogram : turned upward, buyer seller battling.
Support : 1580, 1570, 1565, 1550 level.
Resistance : 1590, 1600, 1610, 1620 level.
Comment :
FKLI closed rallied higher with improved volume transacted doing 3 points premium compare to cash market that also closed higher. Overnight U.S. markets closed 1.24% higher and today Asia markets ended substantially higher while European markets currently registering gains.
Traders switch to speculative buying betting that U.S. and China to implement measure to boots growth putting aside Greece coming Sunday election development.
Technical chart study still suggesting a correction range bound little upside biased market development possibly testing support and resistance 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.

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