Tuesday, November 27, 2012

20121127 1755 FKLI EOD Daily Chart Study.

FKLI closed : 1598 changed : -7 points, volume : higher.
Bollinger band reading : downside biased.
MACD Histogram : turned downward, seller still in.
Support :  1595, 1590, 1580, 1570 level.
Resistance : 1600, 1610, 1615, 1623 level.
Comment :
FKLI continue to closed weaker with increased volume transacted almost on par with cash market that also fell lower. Overnight U.S markets closed lower and today Asia markets ended mixed while European markets currently trading higher.
Remained unsolved U.S. fiscal cliff issue and Europe reached agreement on Greece debt development resulted global markets to react differently.
FKLI daily chart reading still calling a down side biased market development with roll over activities picking up.
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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