Wednesday, December 19, 2012
20121219 1740 FKLI EOD Daily Chart Study.
FKLI closed : 1668.5 changed : +4.5 points, volume : higher.
Bollinger band reading : upside biased with possible pullback correction .
MACD Histogram : rising higher, buyer still in control.
Support : 1660, 1650, 1645, 1640 level.
Resistance : 1670, 1680, 1690, 1700 level.
FKLI closed recorded gain with improving volume changed hand doing about 3 points premium compare to cash market that closed higher. Overnight U.S markets closed firmer and today Asia markets also soared higher while European markets currently having positive development.
Global markets advance higher on U.S. budget talk optimism and Japan economy stimulus prospect.
Daily chart reading adjusted 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.
Posted by MW Chong at 5:40 PM