Thursday, March 24, 2011

FBMKLCI Futures - Daily Message 24 Mar 2011


FKLI bias is neutral, a close below 1500 will turn bias down while a higher close likely turn bias up.
Below the psychological 1500 support level, again expect buyers to come in as same previous levels, 1494, 1480 and last week's low of 1470.
Resistance is still 1515, this weeks' high and then the important level of 1524.
The longer term trend is neutral to up.
Sentiment stayed weak as futures was priced cheap.
The 21 day moving average is now at 1502.

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