Monday, October 8, 2012

20121008 1722 FKLI EOD Daily Chart Study.

FKLI closed : 1663.5 changed : +1 point, volume : higher.
Bollinger band reading : pullback correction upside biased.
MACD Histogram : weakening, buyer taking profit.
Support : 1660, 1657, 1651, 1645 level.
Resistance : 1670, 1680, 1690, 1700 level.
Comment :
FKLI closed recorded marginal gain with improved volume traded doing 3 points premium compare to cash market that closed flat. Last Friday U.S. market closed mixed and today Asia markets traded mostly lower while European markets currently registering loss.
World markets traded lower despite last Friday better than forecast unemployment data from the U.S. on slower earnings concerns while awaits Europe area finance ministers debt crisis meeting outcome.
FKLI daily chart study continue calling a pullback correction 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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