Wednesday, November 7, 2012

20121107 1729 FKLI EOD Daily Chart Study.

FKLI closed : 1640.5 changed : -1 point, volume : lower.
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 marginally lower with lesser volume transacted doing 5 points discount compare to cash market that closed flat. Overnight U.S markets soar higher and today Asia markets ended mostly higher while European markets currently trading higher.
Continue QE3 program after Barack Obama stayed in power for the 2nd term defeated Romney sent global markets trading higher.
FKLI daily chart analysis continue calling 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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