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Thursday, November 12, 2009
20091112 1306 FKLI Mid Day Hourly Chart Study.
Exhausted FKLI closed weaker in unison with major Asia market down 8.5 points at 1267. At closed price penetreted and stop at the lower Bollinger band with the band width spreading wider = market has turned into selling mood. MACD Histrogram also confirming the negative sentiment by diving deeper into the negative zone. With the plotted 1269 support line broken, the next immediate defense line rest at the 1262 ~ 1263 level. Should price over extended far below the lower Bollinger band, a pull back effect will likely to happen.
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