20120213 1732 FKLI EOD Daily Chart Study.

FKLI closed : 1558.5, changed : +5.5 points, volume : higher.
Bollinger band reading : pullback correction upside biased.
MACD Histrogram : rising, buyer in control.
Support : 1550, 1540, 1530, 1515 level.
Resistance : 1565, 1570, 1580, 1590 level.
Comment :
FKLI closed recorded gain with little improved but relatively low volume changed hand doing 4 points discount compare to cash market that closed marginally higher. Last Friday U.S. markets closed recorded loss and today Asia markets ended higher while European markets currently recording gains.
News on positive progress over Greece parliament austerity measures approval and China Premier statement on early economic policy fine tunes should be within Q1 resulted global market to trade higher.
Technical chart remained suggesting a pullback correction upside biased market development.
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.