FKLI bias appear neutral after failing to trade above 1500 but nonetheless closed above its open. A close above 1500 psychological today will turn bias up.
Resistance is expected at 1510 and thereafter the important 1524, which kept a lid on price for the past 1 month.
Support is still 1494, and then 1480, where price bounced off the past month. Important support is Nov low of 1470.
The longer term trend is neutral to up.
Sentiment was weak as futures was priced cheap.
The 21 day moving average is now at 1504.
No comments:
Post a Comment