20120713 1730 FKLI EOD Daily Chart Study.

FKLI closed : 1626.5 changed : +3 points, volume : lower.
Bollinger band reading : pullback correction upside biased.
MACD Histogram : weakening, buyer taking profit.
Support : 1620, 1610, 1600, 1590 level.
Resistance : 1630, 1640, 1650, 1660 level.
Comment :
FKLI closed recovered little higher with lesser volume traded doing par with cash market that closed slightly higher. Overnight U.S. markets continue recorded loss for the 6th day and today Asia markets ended rebounded higher while European markets currently trading higher.
Speculation play on further stimulus measure to be implement after China reported slowest quarterly GDP growth in 3 years send global market recovered higher.
Daily chart study continue to suggesting 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.