Wednesday, June 13, 2012

20120613 1733 FKLI EOD Daily Chart Study.

FKLI closed : 1572.5 changed : -2 points, volume : lower.
Bollinger band reading : side way range bound little upside biased.
MACD Histogram : turned downward, buyer seller battling.
Support : 1570, 1565, 1550, 1530 level.
Resistance : 1580, 1590, 1600, 1610 level.
Comment :
FKLI closed recorded small loss with accelerating Europe cup mood and quiet volume participation doing about 4 points discount compare to cash market that closed nearly unchanged. Overnight U.S. markets closed rallied higher and today Asia markets ended mostly higher while European markets currently having negative development.
Speculation on U.S. Federal Reserve and China will take steps to stimulate their economy plus Japan machinery orders increased more than estimates push U.S. and most Asia markets to trade higher. European markets currently trading lower as Italy Treasury bill sale recorded higher yield (higher borrowing cost) and awaits U.s. retails sales report.
FKLI daily chart technical study still suggesting a side way range bound little 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.

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