20091027 1809 FKLI EOD Daily Chart Study. Hold the line !

A big doji day for the FKLI to closed 7 points lower at 1254 as market recovered during last minutes still doing 6 points discount to our cash market. At last looked, European market traded slightly higher. At closed Hang Seng futures is doing premium of 21 points towards its cash market. Daily chart wise, nearly touched the mid Bollinger band and bounced up to closed above mid Bollinger band = market continue to consolidate with a downside biased but potential support at the trend line or mid Bollinger band. Bollinger band width also narrowed = a smaller range side way market. MACD Histrogram dived into danger zone for the first time after holding on for 12 days = seller won today battle strongly. It would be crucial to monitor the support level from now on to determine the direction of FKLI in the near term.
When to buy : Buy at support with cut loss few points below support.
when to sell : Sell if support broken with cut loss few points above support.      
OR choose to stay sideline.