Friday, November 30, 2012

20121130 1751 FKLI EOD Daily Chart Study.

FKLI closed : 1609.5 changed : -1.5 point, volume : lower.
Bollinger band reading : pullback correction downside biased.
MACD Histogram : rising higher, buyer testing market.
Support :  1600, 1595, 1590, 1580 level.
Resistance : 1610, 1615, 1623, 1627 level.
Comment :
FKLI eased slightly lower with lesser volume traded with December contract doing 3 points discount compare to cash market that closed little higher. Overnight U.S markets closed little higher and today Asia markets ended firmer while European markets currently having positive development.
Continue hopeful on U.S. budget negotiation will reach agreement, News on Japan government approved proposed economy stimulus package and unexpected hike in Japan industrial production lead world markets trading firmer.
Daily chart wise, reading still suggesting a pullback correction down side biased market development with MACD indicator having positive crossed 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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