20120427 1746 FKLI EOD Daily Chart Study.

FKLI closed : 1569.5 changed : -5 points, volume : higher.
Bollinger band reading : downside biased with possbile pullback correction.
MACD Histogram : falling lower, seller in control.
Support : 1565, 1550, 1540, 1530 level.
Resistance : 1570, 1580, 1590, 1595 level.
Comment :
FKLI closed recorded loss with better volume participation doing 1.5 points premium compare to cash market that falls 11 points lower. Overnight U.S. markets closed higher and today Asia markets ended mostly little lower while European markets trading slightly higher.
Mixed news over U.S. reported lower but higher than forecast jobless claim, increased U.S. exisiting home sales, Spain's credit rating downgraded by S&P and new Bank of Japan easing measure resulted global markets to trade in different direction while awaits U.S. GDP data tonight.
Daily technical chart reading revised to calling a downside biased market development with possible pullback correction.
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.