Monday, January 24, 2011
FBMKLCI Futures - Daily Message 24 Jan 2011
FKLI bias is now down and a close below Friday's low of 1543 should keep bias intact.
However, a close above resistance level of 1550, also Friday's afternoon high, could turn bias up.
Further resistance may come at 1555 and around the Friday's morning gap of 1562 - 1564.
Support is still at 1540 and thereafter January low of 1528.
The longer term trend is still up.
Meanwhile, sentiment is weak as futures was priced cheap to cash.
21 day moving average is now at 1549.
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