Thursday, November 1, 2012

20121101 1719 FKLI EOD Daily Chart Study.

FKLI closed : 1672 changed : -1.5 point, volume : lower.
Bollinger band reading : correction range bound upside biased.
MACD Histogram : falling lower, buyer reducing exposure.
Support : 1670, 1660, 1657, 1651 level.
Resistance : 1680, 1690, 1700, 1710 level.
Comment :
FKLI closed recorded marginal loss with quiet volume changed hand doing 3.5 points discount compare to cash market that closed little higher. Overnight U.S. markets closed recorded small loss and today Asia markets ended mostly higher while European markets currently having mixed development.
Most regional markets traded higher after news on China manufacturing data recorded expansion for the 1st time in 3 months and investors awaits a report that may show U.S. consumer confidence rose.
FKLI daily chart study remained calling a correction range bound upside biased market development with MACD indicator having negative crossed down.
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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