Wednesday, December 12, 2012

20121212 1737 FKLI EOD Daily Chart Study.

FKLI closed : 1653.5 changed : +9.5 points, volume : lower.
Bollinger band reading : upside biased with possbile pullback correction.
MACD Histogram : rising higher, buyer in control.
Support :  1650, 1645, 1640, 1635 level.
Resistance : 1660, 1670, 1680, 1690 level.
Comment :
FKLI rallied higher for the 3rd day with lesser volume traded doing about 4 points premium compare to cash market that also closed higher. Overnight U.S markets closed firmer and today Asia markets soared higher while European markets also registering gains.
World markets sentiment getting upbeat on hope that U.S. Federal Reserve will ease it's monetary policy again.
FKLI daily chart study revised to suggesting an upside 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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