20120824 1745 FKLI EOD Daily Chart Study.

FKLI closed : 1648.5 changed : -6 points, volume : higher.
Bollinger band reading : pullback correction upside biased.
MACD Histogram : turned downward again, buyer seller less participation.
Support : 1640, 1630, 1623, 1615 level.
Resistance : 1650, 1660, 1670, 1680 level.
Comment :
FKLI closed declined lower with slightly better volume traded almost on par with cash market closed little lower. Overnight U.S. markets closed recorded loss and today Asia markets ended in negative territory while European markets currently trading mixed.
Overnight higher jobless claim, slower America income data with no stimulus measure implemented left global investors dissapointed and reducing speculation position exposure ahead of the weekend.
FKLI daily chart reading revised to calling a pullback correction upside biased market development with MACD indicator crossing up and down.
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.