Monday, January 24, 2011
FBMKLCI Futures - Daily Message 25 Jan 2011
FKLI bias is still down and a close below 1540 likely keep bias intact.
Though a close above Monday's afternoon high of 1543 may turn bias up.
Support is expected around this area and further down, buyers may come in at 1528, the low of January.
Resistance is still 1550, not to far from yesterday's high and thereafter 1562 - 1564, the gap of Friday.
The longer term trend is nontheless up.
Sentiment stays weak as futures was at discount to cash.
21 day moving average is now 1550.
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