Friday, March 11, 2011

FBMKLCI Futures - 14 Mar 2011


FKLI bias appears to turn up after the close above afternoon opening high, though it needs to close above 1494 resistance to keep rebound going.
Further selling is expected at psychological 1500 and thereafter 1510, the low about a week ago.
Support is now at 1480, where price rebounded 5 times in the past month, and then a stronger one at 1470, also Nov low.
The longer term trend is neutral to up.
Sentiment stayed weak as futures was price at discount to cash.
The 21 day moving average is now at 1505.

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