Thursday, January 27, 2011
FBMKLCI Futures - Daily Message 27 Jan 2011
FKLI bias appears neutral though a close below 1523 will keep bias down.
Support is expected at 1513 which supported price in the morning and then psychological 1500 where price bounced of on Wed's open.
Resistance may come at 1530, yesterday's high, and a close above that like change bias up. Further selling may also come at 1537 and 1550.
The longer term trend is still up.
Sentiment however is positive as futures was at premium to cash. Look for sentiment to turn weak should price fail to make higher closes.
21 day moving average is still at 1550.
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