Bollinger band reading : slightly bullish.
MACD Histrogram : rising higher, buyer still in charge.
Support : 1270, 1260, 1250 level.
Resistant : 1278, 1290, 1300 level.
Comment :
FKLI Jan 2010 contract ended higher with lower volume today following overnight DJIA that rebounded higher and market sentiment improved as yesterday better 4th quarter GDP announced. Technically the daily chart just turned bullish as the Bollinger band width just started to expand suggesting possible further upside with the MACD Histrogram also agree with the upward biased movement by registering higher reading. However on the other hand, cash market last minuted closed from positive to unchanged with FKLI March 2010 contract ended doing 5 points discount compare to cash and 11 points discount compare to Jan 2010 contract raised some doubt on the upward movement.
When to buy : buy at support or weakness with quick cut loss and profit target.
When to sell : sell at resistant or strength with quick cut loss and profit target.
No comments:
Post a Comment