20100123 0104 FCPO Weekly Chart Study.

FCPO closed : 2455, changed : -35 points, volume : higher.
Bollinger band reading : side way .
MACD Histrogram : getting lower.
Support : 2400, middle Bollinger band, 2240 level.
Resistant : 2521, 2650 level.
Comment :
Correction continued this week after market tested the support near 2400 level and recovered slightly. Weekly chart suggesting a continue side way range bound market with possible testing the weekly middle Bolliger band level before resuming it's longer term uptrend movement.

20100123 0047 FCPO EOD Daily Chart Study.

FCPO closed : 2455, changed : -33 points, volume : lower.
Bollinger band reading : bearish.
MACD Histrogram : recovering slowly.
Support : 2440, 2400,
Resistant : 2470, 2521, middle Bollinger band level.
Comment :
Another tricky day for FCPO! Recovery on the US Dollar and news related to China economy triggered a wild swing on FCPO market today forming a doji bar candle. Daily chart remained biased to a bearish outlook in the near term with some recovery taking place. Intraday trader challenging market.  
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.

20100123 0029 FKLI Weekly Chart Study.

FKLI closed : 1295.5, changed : -6.5 points, volume : slightly lower.
Bollinger band reading : bullish but side way likely.
MACD Histrogram : nearly unchanged, rematch for buyer and seller next week.
Support : 1286, middle Bollinger band level.
Resistant : 1309, 1315 level.
Comment :
Weekly chart for FKLI still suggesting a uptrend side way range bound market for the comming week. Factor or catalyst to watch will be interest rate and news from China economy related policy.

20100123 0005 FKLI EOD Daily Chart Study.

FKLI closed : 1295.5, changed : -9 points, volume : higher.
Bollinger band reading : bullish but side way likely.
MACD Histrogram : getting lower, seller adding position.
Support : 1295, 1290, 1286 level.
Resistant : 1300, 1309, upper Bollinger band level.
Comment :
FKLI traded in negative zone today with supporting selling volume ended the day with a doji bar candle. Once tested the low of support level at the daily chart middle Bollinger band followed by positive news from China lead major Asia markets and the FKLI to recovered some of the early morning session losses. Daily chart uptrend trend line remained intact but sellers are likely to take their chances to test the market strength at further lower price level.
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.