20120208 1729 FKLI EOD Daily Chart Study.

FKLI closed : 1548.5, changed : +10.5 points, volume : higher.
Bollinger band reading : upside biased with possible pullback correction.
MACD Histrogram : rising, buyer in advantage.
Support : 1540, 1530, 1515, 1505 level.
Resistance : 1550, 1565, 1570, 1580 level.
Comment :
FKLI closed recorded gains again for 4 trading days in a row with better volume transacted after a long holidays doing 4.5 points discount compare to cash market that rallied higher. Overnight U.S. markets closed little higher and today Asia markets ended in positive territory while European markets currently registering gains.
Global markets sentiment improves on better U.S. unemployment data, positive development over Greece debt talks and speculation of China monetary easing as inflation slowing.
Daily chart study adjusted to suggesting an upside biased market development with potential pullback correction with MACD indicator just having positive crossed up.
When to buy : buy at support or weakness with quick cut loss and profit target.
When to sell : sell at resistance or strength with quick cut loss and profit target.