Tuesday, October 2, 2012

FKLI EOD 2/10/12



FKLI remains bullish for the time being, with its current price standing above all its short and long term moving averages.

It has somehow managed to break and stay at the level of 1655, however we have yet to see it breaks past 1657.50 level today, the highest it went up to was 1656 and tested twice for the day.

In my opinion, it is not difficult to touch 1657.5 again however, as i did mentioned in my observation yesterday was its volume. The volume today is still very unconvincing for a strong up move. It is even lower than what we could see yesterday. 

Therefore, for the time being, not to gamble but to watch closely on what is the next step to take. 

Bulls without volume? How long can a bull without strength last during a fight? 

This is the question to ask ourselves. :-)

Support @ 1649 - 37.


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