20091022 1436 FKLI Hourly Chart Study !

Selling pressure continue today on FKLI but seems like buyer fighting spirit remain high defending the price to closed at 1262.5. Still closed below mid Bollinger Band = liquidation of long position still take place. With Bollinger Band width start narrow indicate that FKLi will have a temporary bounce back from it selling downward movement. MACD Histrogram also edging up slowly shows that buyer may start to reenter the market. Overall the correction has yet to over unless price break above mid Bollinger Band which is also serve as the temporary resistant.