Monday, February 14, 2011

FBMKLCI Futures - Daily Message 16 Feb 2011


FKLI seem to turn up and a close above 1507 should keep bias up.
Resistance is now 1516, the high of Monday, and thereafter 1524, the level that couple of times last week. Further up, resistance is at last week high of 1540.
Support is now psychological 1500 level, also Monday's afternoon low and then 1485, also Dec low.
The longer term trend is still up.
Sentiment has finally turned, as futures was priced rich.
The 21 day moving average is now at 1537.

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