20120224 1727 FKLI EOD Daily Chart Study.

FKLI closed : 1562.5, changed : +5 points, volume : lower.
Bollinger band reading : correction range bound upside biased.
MACD Histrogram : falling, buyer reducing position.
Support : 1550, 1540, 1530, 1515 level.
Resistance : 1565, 1570, 1580, 1590 level.
Comment :
FKLI closed recorded gain with higher volume participation doing 3.5 point premium compare to cash market that closed little higher. Overnight U.S. markets ended higher and today Asia markets traded higher while European markets currently registering gains.
Market sentiment turned positive after U.S. reported better jobs and housing data. Higher volume transacted today are partly contributed by rollover activities.
Daily chart study still suggesting a correction range bound 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.