Thursday, June 7, 2012

20120607 1720 FKLI EOD Daily Chart Study.

FKLI closed : 1571 changed : -1.5 point, volume : lower.
Bollinger band reading : side way range bound.
MACD Histogram : rising, buyer seller battling.
Support : 1570, 1565, 1550, 1540 level.
Resistance : 1580, 1590, 1600, 1610 level.
Comment :
FKLI closed small loss with slower volume transacted doing 2 points discount compare to cash market that closed higher. Overnight U.S. markets closed rallied higher and today Asia markets ended higher while European markets currently recording small gain.
World  markets traded higher on speculation bet that global policy maker will take steps to stimulate global economy growth and China move delayed tightening banks rules.
Daily technical chart analysis suggesting a side way range bound market development testing support and resistance.
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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