Thursday, November 22, 2012

20121122 1744 FKLI EOD Daily Chart Study.

FKLI closed : 1613.5 changed : -5.5 point, volume : lower.

Bollinger band reading : pullback correction downside biased.
MACD Histogram : recovering, seller taking profit.
Support :  1615, 1610, 1600, 1595, 1590 level.
Resistance : 1623, 1627, 1635, 1640 level.
Comment :
FKLI closed declined lower with slower volume changed hand doing 5 points discount compare to cash market that closed recorded loss. Overnight U.S markets closed recorded small gains and today Asia markets ended mostly firmer while European markets currently trading in positive territory.
Overall markets sentiment improved today on overnight better U.S. jobless claims data and a reports from China shows manufacturing expanded for the 1st time in 13 months.
Daily chart study remained suggesting a pullback correction downside 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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