Monday, April 25, 2011

FBMKLCI Futures - Daily Message 26 April 2011


FKLI bias stays down but it needs to close below 1520 to keep bias intact. A close above 1530 will turn bias up.
Support is still the area of 1520 - 1518, and then last week's fasle break of 1510.
Resistance is now expected at 1530, the high of yesterday and then the area of 1540 - 1542.
The longer term trend is up but price has to close above 1580 to confirm it.
Sentiment was muted as futures was priced about fair.
The 21 day moving average is now at 1534.

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