FKLI bias is down but it has to close below the psychological 1500 to keep bias intact.
After 1500, expect support at 1494, also important level for the past month. Thereafter, buying may come at 1480 and 1470, the low of last week.
Resistance is still 1515, yesterday's high, and then 1524, the level that kept price low for the past month.
The longer term trend is neutral to up.
Sentiment turned weak as futures was priced at steep discount to cash.
The 21 day moving average is now at 1501.
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