Monday, January 3, 2011
FBMKLCI Futures - Daily Message 3 Jan 2011
FKLI 1527 close gives a hint of weakness and it need to close back above 1530 resistatnce to keep upward bias intact. Otherwise, bias may turn sideways to down.
Further resistance is at 1540, Thrusday's high and then intraday all time high of 1546.
Supports are at early Dec high of 1523 and then prior consolidation low of 1513. Minor support may come at 1518.
Sentiment nontheless stayed positive as futures was again at premium to cash. Should sentiment has influence over price, it has to close above 1530 to keep it going.
21 day moving average is at 1509
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