Friday, December 14, 2012
20121214 1727 FKLI EOD Daily Chart Study.
FKLI closed : 1651 changed : 0.5 points, volume : lower.
Bollinger band reading : pullback correction upside biased.
MACD Histogram : turned downward, buyer taking profit.
Support : 1650, 1645, 1640, 1635 level.
Resistance : 1660, 1670, 1680, 1690 level.
FKLI closed 1 tick higher with slower volume exchanged doing about 1 point discount compare to cash market that closed marginally lower. Overnight U.S markets closed recorded loss and today Asia markets ended mixed while European markets trading mostly little higher.
World markets reacted differently on unfruitful U.S. budget discussion development and a surveys showed China’s manufacturing may accelerate this month.
FKLI daily chart study adjusted to suggesting a pullback correction upside 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.
Posted by MW Chong at 5:27 PM