Friday, February 11, 2011

FBMKLCI Futures - Daily Message 11 Feb 2011


FKLI bias stays and a close below psychological 1500 should keep bias intact.
Support is now at 1490 and then the important low of Dec, 1485. Should it be violated, further support is expected at Nov low of 1470.
Resistance is now 1500 and then the gap of 1524. Thereafter, resistance is expected at 1533, which was a support level.
The longer term trend is still up, though the picture may change on close below 1470.
Sentiment stayed downcast as futures was at wide discount to cash.
21 day moving average is now at 1542.

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