Monday, April 11, 2011

FBMKLCI Futures - Daily Message 12 April 2011


FKLI bias stays down and a close below 1536 should keep bias intact.
Immediate support is now at 1530 and thereafter the significant 1524.
Expect resistance at the area of 1540 - 1542, not too far from last weeks low, and then psychological 1550.
The longer term trend is up but price has to close above 1580 to confirm it.
Sentiment stayed weak as futures was again at discount to cash.
The 21 day moving average is now at 1522.

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