Friday, April 22, 2011

FBMKLCI Futures - Daily Message 25 April 2011


FKLI bias stays down and a lower close should keep bias intact.
Support is now the area of 1520 - 1518 and then 1510, the low of last week.
Expect resistance at 1524 and then again, the area of 1535 - 1542.
The longer term trend is up but price has to close above 1580 to confirm it.
Sentiment was neutral as futures was priced about fair.
The 21 day moving average is now at 1533.

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