20120710 1721 FKLI EOD Daily Chart Study.

FKLI closed : 1629.5 changed : +9.5 points, volume : higher.
Bollinger band reading : upside biased.
MACD Histogram : resume rising, buyer in control.
Support : 1620, 1610, 1600, 1590 level.
Resistance : 1630, 1640, 1650, 1660 level.
Comment :
FKLI closed recorded gain reaching new year high with better volume traded doing 5 points premium compare to cash market that closed little higher. Overnight U.S. markets closed weaker and today Asia markets ended mostly lower while European markets currently registering gains.
Regional market having mixed reaction after news on Spain's banks will get accelerated $100 billions euros from European government, China trade data reported 3 years high trade surplus with better than estimate exports and slower than anticipated imports amid sign of slowing demand from China adding pressure for further stimulus while overnight U.s. reported higher than median estimate consumer credits.
Back home, FKLI daily chart study revised back to suggesting an upside biased market development testing higher resistance level.
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.