20120731 1741 FKLI EOD Daily Chart Study.

FKLI closed : 1633.5 changed : +5 points, volume : lower.
Bollinger band reading : correction range bound little upside biased.
MACD Histogram : turn upward, buyer in control.
Support : 1630, 1623, 1615, 1600 level.
Resistance : 1640, 1650, 1660, 1670 level.
Comment :
FKLI closed advanced higher with reducing volume traded with Aug contract doing about 3 point premium compare to cash market that declined marginally. Overnight U.S. markets retreated slightly lower and today Asia markets closed mostly higher while European markets currently maving mixed development.
Global markets traded mostly higher awaits news from ECB and U.S. Federal Reserve on possible moves to stimulate economic growth.
Daily chart technical study adjusted to suggesting a correction range bound little 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.