Thursday, December 6, 2012

20121206 1721 FKLI EOD Daily Chart Study.

FKLI closed : 1615 changed : +0.5 point, volume : lower.
Bollinger band reading : correction range bound downside biased.
MACD Histogram : rising higher, buyer testing market.
Support :  1610, 1600, 1595, 1590 level.
Resistance : 1615, 1623, 1627, 1635 level.
Comment :
FKLI edge up marginally with lesser volume distributed doing 1 points discount compare to cash market that closed recorded small gain. Overnight U.S markets closed higher and today Asia markets ended mixed while European markets currently trading firmer.
Most regional market traded higher after overnight U.S. beat estimates services and factorry orders data plus restores optimism over budget discussion.
Daily chart reading remained calling a correction range bound down side biased market development testing resistance near middle Bollinger band level.
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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