20091029 1309 FKLI Hourly Chart Study.

No exception for our FKLI or FBM KLCI cash market to escape the fate of being bite by the shark's jaws by gaping down on opening and going down deeper before short position trade decided to cash in their profits. This can be witnessed by the last few doji candles bottoming tails. At closed price is trading below Bollinger band with wider Bollinger band width = downside biased market. However, MACD Histrogram turned upward at the last 2 bars = seller locked in profit by covering short position. Should profit taking activity continue on the second half session, market may attempt to touch today's gap.