20120621 1737 FKLI EOD Daily Chart Study.

FKLI closed : 1606.5 changed : -1 points, volume : lower.
Bollinger band reading : pullback correction upside biased.
MACD Histogram : rising higher, buyer in control.
Support : 1600, 1590, 1580, 1570 level.
Resistance : 1610, 1620, 1630, 1640 level.
Comment :
FKLI closed little lower with lesser volume transacted doing 5 points premium compare to cash market that also pullback little lower. Overnight U.S. markets decline marginally and today Asia markets ended mostly in negative zone while European markets currently recording small loss.
Global markets recent upbeat disappear today after overnight U.S. Federal Reserve cut U.s. economy growth forecast, extended its operation twist without any stimulus measure announce plus concern on possible slow China manufacturing let investors in little disappointment.
Technical chart study revised to calling a pullback correction 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.