20120717 1721 FKLI EOD Daily Chart Study.

FKLI closed : 1642.5 changed : +10 points, volume : higher.
Bollinger band reading : upside biased with possible pullback correction.
MACD Histogram : turned upward, buyer in control.
Support : 1640, 1630, 1620, 1610 level.
Resistance : 1650, 1660, 1670, 1680 level.
Comment :
FKLI closed higher with little improved volume traded doing 3 points premium compare to cash market that closed recorded small gain. Overnight U.S. markets declined lower and today Asia markets ended in positive territory while European markets currently trading little higher.
Speculation on further U.S. stimulus measure sent Global market traded higher ahead of Federal Reserve semi-annual report on the economy and monetary policy today and tomorrow.
Daily chart reading revised to suggesting an upside biased market development with possible pullback correction.
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.