Wednesday, October 10, 2012

20121010 1721 FKLI EOD Daily Chart Study.

FKLI closed : 1661 changed : +0.5 point, volume : lower.
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 1 tick higher with thin volume traded doing 1.5 point premium compare to cash market that closed little higher. Overnight U.S. markets declined lower and today Asia markets also ended in negative territory while European markets currently trading weaker.
Global markets sentiment turned negative on slower global economy growth concern and IMF statement on European banks may need to sell off 4.5 trillion worth of assets.
FKLI daily chart study still 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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