Monday, December 10, 2012

20121210 1744 FKLI EOD Daily Chart Study.

FKLI closed : 1633.5 changed : +18 points, volume : higher.
Bollinger band reading : correction range bound little downside biased.
MACD Histogram : rising higher, buyer in control.
Support :  1627, 1623, 1615, 1610, 1600, 1595 level.
Resistance : 1635, 1640, 1645, 1650 level.
Comment :
FKLI closed rallied higher with improved volume transacted doing 1 point premium compare to cash market that also closed higher. Last Friday U.S markets closed recorded gains and today Asia markets ended in positice territory while European markets currently trading lower.
U.S and Asia markets traded higher on better than estimates U.S payroll data, today still resilient China ecocomy data in factory output, retail sales and under control inflation while European markets trading lower on Italian prime minister resignation news.
FKLI daily chart reading revised to suggesting a correction range bound little down side biased market development with possible pullback correction.
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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