FKLI closed : 1577.5 changed : +1.5 point, volume : lower.
Bollinger band reading : upside biased with possible pullback correction.
MACD Histrogram : rising, buyer patrolling.
Support : 1565, 1550, 1540, 1530 level.
Resistance : 1580, 1590, 1600, 1610 level.
Comment :
Expired Jun 2011 FKLI contract closed recorded small gain with lower volume exchanged with July 2011 contract doing about 2 points premium compare to cash market that closed at all time high recorded gain while Asia and European market closed and trading in positive territory with overnight U.S. market closed firmer.
Result of Greek vote eases concern on possible default put some relief among investors for the near term with market reacted positively to the news.
Daily chart formed a small body up doji bar candle closed right at upper Bollinger band after market opened 1 tick higher, moved side ways within a narrow 4.5 points range bound market toward the end to closed near opening price.
Technical reading remained suggesting an upside biased market development with possible pullback correction testing support and resistance level.
When to buy : buy at support or weakness with moderate cut loss and profit target.
When to sell : sell at resistant or strength with quick cut loss and profit target.
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