Tuesday, November 6, 2012

20121106 1721 FKLI EOD Daily Chart Study.

FKLI closed : 1641.5 changed : -6 points, volume : higher.
Bollinger band reading : little downside biased with possible pullback correction.
MACD Histogram : falling lower, seller taking exposure.
Support :  1640, 1635, 1627, 1623 level.
Resistance : 1645, 1651, 1657, 1660 level.
Comment :
FKLI closed weaker recorded loss for the 3rd day with increasing volume changed hand doing 4 points discount compare to cash market that also closed lower. Overnight U.S markets closed little higher and today Asia markets ended mostly lower while European markets currently swing between gains and losses.
Global market traded lower as investors focus on today U.S. presidential election.
FKLI daily chart study revised to suggesting a little downside biased market development with possible pullback correction.
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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