Monday, September 10, 2012

20120910 1748 FKLI EOD Daily Chart Study.

FKLI closed : 1608 changed : -7 points, volume : lower.
Bollinger band reading : downside biased with possible pullback correction.
MACD Histogram : falling lower, seller in control.
Support : 1600, 1595, 1590, 1575 level.
Resistance : 1615, 1623, 1630, 1640 level.
Comment :
FKLI closed recorded loss with reducing volume transacted doing 13 points discount compare to cash market closed little lower. Last Friday U.S. market closed little higher and today Asia markets swung between gains and losses ended mixed while European markets currently trading little lower.
Mixed reaction acrossed the world markets after U.S. and China reported slower economy data lead to more easing measures speculation.
Daily chart wise, study adjusted to suggestinga downside 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.

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