FKLI dragged down by weak US economic data and lower commodity prices, closed 5.5 points lower @ 1080. A monthly index of manufacturing conditions around the New York region fell to -9.4 in June from -4.6 the previous month, pointing that any recovery in the US - a critical market for Asian exporters - may be slower than expected. From the 60minutes chart on the left it shows Bollinger Band width begin to expand with candle below middle BB band. MACD still in bearish mode but begin to form a rouding bottom. Resistance @ 1083.5, 1091.5 while support @ 1078.5, 1075 HAPPY TRADING!!
FKLI Technial Analysis - 16 June 2009
Tuesday, June 16, 2009
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