Bollinger band reading : correction range bound upside biased.
MACD Histrogram : turned upward, buyer seller battling.
Support : 1570, 1565, 1550, 1540 level.
Resistance : 1580, 1590, 1600, 1610 level.
Comment :
FKLI closed rallied higher with declining volume transacted with Mar 2012 contract doing 3 points premium compare to cash market that also closed higher. Overnight U.S. markets closed higher and today Asia markets traded positively while European markets also rising higher.
Improved U.S. consumer confident, better Japan and South Korea factory output continue to lift global markets higher while investors awaits details from latest round of European Central Bank funding to banks.
FKLI daily chart analysis still suggesting a correction range bound upside biased market development with market reaching new 2012 high.
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.
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