Wednesday, December 5, 2012

20121205 1726 FKLI EOD Daily Chart Study.

FKLI closed : 1612 changed : +8.5 points, volume : lower.
Bollinger band reading : correction range bound downside biased.
MACD Histogram : rising higher, buyer testing market.
Support :  1600, 1595, 1590, 1580 level.
Resistance : 1610, 1615, 1623, 1627, 1635 level.
Comment :
FKLI closed firmer with slower volume transacted doing 2 points discount compare to cash market that closed advanced higher. Overnight U.S markets closed recorded small loss and today Asia markets ended in positive zone while European markets currently trading higher.
China and Hong Kong market rallied after policy limiting insurance company investment on commercial lender was abolished.
FKLI daily chart study continue to calling a correction range bound down side biased market development testing resistance near middle Bollinger band level.
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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