Friday, September 7, 2012

20120907 1712 FKLI EOD Daily Chart Study.

FKLI closed : 1615 changed : +3.5 points, volume : lower.
Bollinger band reading : pullback correction downside biased.
MACD Histogram : falling lower, seller in control.
Support : 1600, 1595, 1590, 1575 level.
Resistance : 1615, 1623, 1630, 1640 level.
Comment :
FKLI closed rebounded little higher with lesser volume exchanged doing 9.5 points discount compare to cash market that also closed recorded gain. Overnight U.S. market closed rallied substantially higher and today Asia markets ended in positive zone while European markets currently trading higher.
World markets welcomed the latest development over ECB bond buying and debt reduction plan, more stimulus news from China with approved to build 2,018 kilometers of roads while investors awaits U.S. jobs and unemployment data.
FKLI daily chart study adjusted to calling a pullback correction downside biased market development after plunged more than 40 points in 3 days.
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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