20120727 1754 FKLI EOD Daily Chart Study.

FKLI closed : 1623.5 changed : +1.5 points, volume : higher.
Bollinger band reading : pullback correction upside biased.
MACD Histogram : falling lower, buyer taking profit.
Support : 1623, 1615, 1600, 1595 level.
Resistance : 1630, 1640, 1650, 1660 level.
Comment :
FKLI closed edge up little higher with ultra high volume traded doing 1.5 point discount compare to cash market that also closed marginally higher. Overnight U.S. markets rallied higher and today Asia markets closed higher while European markets currently swing between gain and losses.
Pledged by European Central Bank to save the Euro and rising speculation on additional stimulus measure by Federal Reserve ahead of tonight U.S. GDP figure(slower growth forecast) send global markets soaring higher.
However, FKLI technical chart study still calling a pullback correction upside biased market development with increasing rollover activities.
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.