Wednesday, April 6, 2011

FBMKLCI Futures - Daily Message 6 April 2011


FKLI bias is neutral after the mixed closed. The close below morning low is weak but the close right at 1550 is supportive.
Resistance is still 1555, the low of Jan consolidation, which price has to close above and then the gap of 1562-1564.
After area of 1550 - 1547, expect supports at prior highs of 1540 and 1530.
The longer term trend is up but price has to close above 1580 to confirm it.
Sentiment was slightly subdued as futures was price at discount to cash.
The 21 day moving average is now at 1514.

No comments:

Post a Comment