Thursday, October 18, 2012

20121018 1739 FKLI EOD Daily Chart Study.

FKLI closed : 1667.5 changed : +2 points, volume : lower.
Bollinger band reading : upside biased. 
MACD Histogram : recovering, buyer seller battling. 
Support : 1660, 1657, 1651, 1645 level.
Resistance : 1670, 1680, 1690, 1700 level.
Comment :
FKLI closed little higher with reduced volume transacted doing 2 points premium compare to cash market that closed firmer. Overnight U.S. markets closed recorded marginal gain and today Asia markets soared higher while European markets currently having mix development. 
Within estimates China 3rd quarter GDP figure(+7.4%, slower growth) and surge in U.S. home sales data send most world markets trading higher. 
Daily chart reading continue to suggesting an upside biased market development but have yet to break above previous high at 1671.5 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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