Friday, December 7, 2012

20121207 1738 FKLI EOD Daily Chart Study.

FKLI closed : 1615.5 changed : +0.5 point, volume : lower.
Bollinger band reading : correction range bound downside biased.
MACD Histogram : rising higher, buyer in advantage.
Support :  1615, 1610, 1600, 1595 level.
Resistance : 1623, 1627, 1635, 1640 level.
Comment :
FKLI closed 1 tick higher with decreasing volume traded doing 2 points discount compare to cash market that closed marginally higher. Overnight U.S markets closed firmer and today Asia markets ended mixed again while European markets moving side ways between gains and losses.
Global markets traded mixed ahead of U.S. payroll data, news on Bundesbank slash Germany 2013 growth forecast to 0.4& and 7.4 magnitude earthquake on east coast of Japan affecting Tokyo buildings and issue 1 meter tsunami alert.
Daily chart reading still calling a correction range bound 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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