FKLI Spot >>> Commentary c/w Daily Chart

FKLI Daily technical analysis
The FKLI spot month contract ended with limited losses on Thursday while cash market managed to close in the positive territory. At the close, the FKLI price was dropped 2.5 pts or -0.15% to 1,673.

Based on the daily chart, an uncertain candle has been formed on Thursday where it indicated that market was indecisive. As we can see in the chart, a reversal candle formation had detected at the current highest level. Normally this kind of candle formation suggests that the FKLI price may reverse from the current highest level. However, further confirmation is needed to confirm the signal.

Referring to the MACD histogram is building up in the positive zone. As always, intraday support and resistance levels will be eyed.

Technical indicators

MACD= Negative, ADX= Negative，

Intraday technical support & resistance for 29th Mar 2013

1st support 1,660; 2nd support 1,650

1st resistance 1,678-82, 2nd resistance 1,690

GOOD LUCK 

FKLI Daily Market Commentary >>> FKLI

FKLI Daily Technical Analysis

The FKLI spot month contract expired unchanged but the benchmark index closed solidly higher due to market sentiment lifted from the 2013 Budget announced on Friday. At the close, the FKLI price was unchanged to 1,633.5.

As we can see in the chart above, the FKLI price had tested the resistance line as drawn in the chart but it failed to break above the resistance line. However, we should monitor closely if the price is able to break and closes above the resistance line, it will rise further and the previous high level will be monitored. Otherwise, it will fall back if the price is unable to break above the resistance line.

Referring to the MACD indicator, the MACD line just crosses above the signal line where the positive sentiment may be building up. Meanwhile, MACD histogram just building up in the positive zone. As always, intraday support and resistance levels will be eyed.

Technical indicators:

MACD =  Negative, ADX=Negative

Intraday technical support & resistance for 01 st Oct 2012

1st support 1,628; 2nd support 1,620

1st resistance 1,638-45; 2nd resistance 1,652

 

GOODLUCK2ALL

FKLI >>> Market Commentary / Technical Outlook 27 Sept 2012

FKLI Daily technical analysis:

The FKLI spot month contract ended slightly higher on Wednesday, which was followed the gain in cash market despite weakening in the external market did not affect much on the price. At the close, the FKLI price was up 1.5 pts or 0.09% to 1,618.

Based on the daily chart, another positive candle was formed on Wednesday where it indicated that mild buying interest remains supported the FKLI price. During the trading session, price had tested again the resistance line but it was unable to break above that resistance line as drawn in the chart. Our review remains unchanged, where the price could be trading in between the range of 1,587- 1,620 level. However, if the price is able to break either way, a new direction may be established.

Referring to the daily MACD indicator, it signals that market sentiment remains negative and the upside potential may be limited. However, the alternative MACD 6,12,6 (Short parameters) tells a different story. Refer to chart below ........

 

As always, intraday support and resistance levels will be eyed.

Technical indicators:

MACD = Negative, ADX=Negative，

Intraday technical support & resistance for 27th Sept 2012:

 1st support 1,607; 2nd support 1,600

 1st resistance 1,620; 2nd resistance 1,628-40

HAPPY TRENDING