Monday, November 23, 2009

20091123 0912 FKLI Weekly Chart Study.



Another doji week for the FKLI that trading 2 points lower with lower volume traded. Weekly chart wise, the doji bar candle has yet to touched the middle Bollinger band = market tone still remained positive. Bollinger band stayed narrowing = market are likely to trade side way range bound. Interesting happening to the MACD Histrogram that turned into negative territory = buyer strength to hold on to the market seems deteriorating. Immediate support stands at 1255 followed by 1250 level and resistant rest at the previous high at 1286.

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