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Monday, July 15, 2013

FKLI Preview, Tecknical Outlook 15 July 2013

FKLI Daily technical analysis
The FKLI spot month contract ended slightly higher on Friday which was in tandem with the rise in benchmark index. At the close, the FKLI price up 1.5 points or 0.08 % to 1,789.5.
Based on the daily chart, a small positive candle with lower wick has been formed on Friday where it indicated that the FKLI price was supported at the intraday low level. As we can see in the chart, the price traded in a narrow range after it rose sharply on Thursday. However, the price still managed to stay above the support line for second day. The FKLI price may rise further if it is able to stay above the support line in the coming days.
Referring to the MACD histogram, rounding bottom is forming up. As always, intraday support and resistance levels will be eyed.
Technical indicators
MACD= Positive, ADX= Positive
Intraday technical support & resistance for 15th July 2013
1st support 1,785; 2nd support 1,780-75
1st resistance 1,793, 2nd resistance 1,800


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