Tuesday, December 4, 2012

20121204 1732 FKLI EOD Daily Chart Study.

FKLI closed : 1603.5 changed : +2.5 points, volume : higher.
Bollinger band reading : correction range bound downside biased.
MACD Histogram : turned upward, buyer testing market.
Support :  1600, 1595, 1590, 1580 level.
Resistance : 1610, 1615, 1623, 1627 level.
Comment :
FKLI closed edge up little higher with better volume traded doing 4 points discount compare to cash market that closed nearly unchanged. Overnight U.S markets closed recorded loss and today Asia markets ended mixed while European markets currently trading slightly higher.
Global market having mixed development as U.S. budget discussion remained unsettle among lawmakers and overnight unexpected slower manufacturing data.
FKLI daily chart reading adjusted to calling a correction range bound down side biased market development testing support and resistance.
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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