Friday, June 8, 2012

20120608 1742 FKLI EOD Daily Chart Study.

FKLI closed : 1573.5 changed : +2.5 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 little higher with drying out volume changed hand doing 3 points premium compare to cash market that closed lower. Overnight U.S. markets closed mixed and today Asia markets ended lower while European markets currently registering loss by more than 1%.
Regional markets surrendered yesterday gains despite China cuts its benchmark interest rate and after Federal Reserve chairman statement refraining from discussing steps to protect growth amid Europe’s worsening debt crisis and concern that central banks are struggling to reinforce global demand.
Daily chart study remained 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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