Wednesday, October 3, 2012

20121003 1835 FKLI EOD Daily Chart Study.

FKLI closed : 1649.5 changed : -6.5 points, volume : higher.
Bollinger band reading : pullback correction little upside biased. 
MACD Histogram : turned downward, buyer reduce exposure. 
Support : 1645, 1640, 1627, 1623 level.
Resistance : 1651, 1657, 1660, 1670 level.
Comment :
FKLI closed recorded loss with better volume changed hand on par with cash market that closed marginally  lower. Overnight U.S. market closed mixed and today Asia markets ended mostly lower while European markets currently trading in negative territory. 
Slower China services industries expansion data reported and uncertainty over Spanish bailout issue send world markets trading lower. 
FKLI daily chart study suggesting a pullback correction little upside biased market development after market tested new high today.
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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