Wednesday, October 31, 2012

20121031 1754 FKLI EOD Daily Chart Study.

FKLI closed : 1673 changed : -2.5 points, volume : lower.
Bollinger band reading : correction range bound upside biased.
MACD Histogram : weakening, buyer taking profit.
Support : 1670, 1660, 1657, 1651 level.
Resistance : 1680, 1690, 1700, 1710 level.
Comment :
FKLI closed little lower in lesser volume traded with November contract ended almost on par to cash market closed recorded small decline. Overnight U.S. markets closed for business due to
U.S. equity markets will open today after the longest weather-related shutdown in more than a century, resuming after the New York Stock Exchange was spared by Hurricane Sandy and today Asia markets traded mostly higher while European markets currently trading little higher.
Asian and European markets trading higher after South Korea reported higher industrial production data and higher U.S. home prices.
FKLI daily chart study continue to calling a correction range bound 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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