Tuesday, March 1, 2011

FBMKLCI Futures - Daily Message 1 Mar 2011


FKLI bias stays down but it could turn up if price can close above 1494 today. A close below 1482 should keep bias down.
Resistance is still at psychological 1500 and then a prior high of 1518.
Support is still last 1480 and then yesterday's low of 1475. Stronger support is at Nov low of 1470.
The longer term trend is neutral to up.
Sentiment turned weak as futures was at discount to cash.
The 21 day moving average is now at 1512.

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