Thursday, November 29, 2012

20121129 1734 FKLI EOD Daily Chart Study.

FKLI closed : 1611 changed : +2 points, volume : lower.
Bollinger band reading : pullback correction downside biased.
MACD Histogram : recovering, seller taking profit.
Support :  1610, 1600, 1595, 1590 level.
Resistance : 1615, 1623, 1627, 1635 level.
Comment :
FKLI closed little firmer with slower volume traded doing 4 points premium compare to cash market that closed marginally higher. Overnight U.S markets traded lower and today Asia markets ended positively and European markets also trading higher currently.
Global markets sentiment improved as U.S. lawmakers are optimistic that they are able to reach an agreement to avoid budget spending buts and tax hike.
FKLI daily chart reading continue to suggesting a pullback correction down side 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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