Thursday, August 30, 2012

20120830 1725 FKLI EOD Daily Chart Study.

FKLI closed : 1647.5 changed : +1 point, volume : lower.
Bollinger band reading : pullback correction little upside biased.
MACD Histogram : falling lower, seller testing market.
Support : 1640, 1630, 1623, 1615 level.
Resistance : 1650, 1660, 1670, 1680 level.
Comment :
FKLI closed slightly higher with lesser volume changed hand with September contract closed doing 1 point discount compare to cash market that closed recorded minor gain. Overnight U.S. markets closed recorded small gain and today Asia markets ended in negative zone while European markets currently registering loss.
Global market traded mostly recorded loss after Japan reported lower than expected retail sales and weaker Korea manufacturers confidence while await U.S. Federal Reserve's chairman speech tomorrow.
FKLI daily chart reading adjusted to suggesting a pullback correction little upside biased market development testing middle Bollinger band support 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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