FBMKLCI Futures - Daily Message 1 June 2011

FKLI bias turned back up and a close above 1562 should keep bias intact.
Resistance is now the area of 1562-1564, the high of April and gap of Jan, and then all time high of 1580. Minor selling may come at 1570.
The 1550 level has now turned support. Further support is at 1545 and the gap of last week 1536-33.
The longer term trend is up but price has to close above 1580 to confirm it.
Sentiment was somewhat downcast, as futures was price at discount to cash.
The 21 day moving average is now at 1530.

R1/1562-64 R2/1570 R3/1580
S1/1550 S2/1545 S3/1536-33

FBMKLCI Futures - Daily Message 31 May 2011

FKLI turned down after closing below morning low and a close below 1545 should keep bias intact.

Support is expected at the gap of last week, the area of 1536-1533 and then 1524. Minor support may come at the then important level of 1540.

The 1545 has not turned resistance but price would not turn up until it closed above 1550 resistance level. Further up, expect selling at 1562.

The longer term trend is up but price has to close above 1580 to confirm it.

Sentiment nonetheless stayed upbeat as futures was still at premium to cash.

The 21 day moving average is now at 1530.

R1/1545 R2/1550-52 R3/1562

S1/1540 S2/1536-33 S2/1524

FBMKLCI Futures - Daily Message 30 May 2011

FKLI bias stays up after another strong close but price has to close above 1550 to keep bias intact.
Expect resistance in the area of 1550 – 1552, the high of yesterday, and then 1562, the high of April. Support is now expected at 1545, the low of Friday and then the area of 1536-1532, the gap of Thursday.

The longer term trend is up but price has to close above 1580 to confirm it.

Sentiment was however muted, as futures was priced about fair to cash.

The 21 day moving average is now at 1529.

R1/1550-1552 R2/1562 R3/1580

S1/1545 S2/1536-32 S3/1524

FBMKLCI Futures - Daily Message 27 May 2011

FKLI bias stays up after closing above 1540 resistance level but price has to close above 1546 to keep bias intact.
After 1546, expect resistance at 1562, the high of April. Minor selling may come at 1550.
The 1540 level has now turned support. Thereafter, expect support at 1536, the low of Thursday and then 1532.
The longer term trend is up but price has to close above 1580 to confirm it.
Sentiment was positive, the first time in 9 days as futures was priced rich to cash. A strong market should be able keep sentiment upbeat.
The 21 day moving average is now at 1528.

R1/1546 R2/1550 R3/1562
S1/1536 S2/1532 S3/1524

FBMKLCI Futures - Daily Message 26 May 2011

FKLI bias stays up after another higher close but price has to close above 1532 resistance to keep bias intact.

After 1532, the low of last week, expect resistance at 1536, the low of last Thursday and Friday, and thereafter the important 1540 level. Higher up, expect selling at 1546 and then 1562, the high of April.

Support is still the area of 1524 – 1520 and then 1510. Stronger support expected at psychological 1500.

The longer term trend is still up but price has to close above 1580 to confirm it.
Sentiment stayed weak as futures was at discount to cash, for the 8th day running now.
The 21 day moving average is now at 1527.

FBMKLCI Futures - Daily Message 25 May 2011

FKLI bias may have turned up after the close above morning and a close above 1525 should keep bias intact.
Resistance is now 1532, the low of last week, and than the important level of 1540.
The area of 1524 - 1520 have now turned support. Expect further support at 1510 and the psychological 1500.
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, 7 days in a row.
The 21 day moving average is now 1527.

R1/1532 R2/1536 R3/1540
S1/1524-1520 S2/1510 S3/1500

FBMKLCI Futures - Daily Message 24 May 2011

FKLI bias stays down and a close below 1518 should keep bias intact.
Support is now 1510, important support in April and then the psychological 1500.
The 1520-1524 has now turned resistance. Further up, expect selling at 1532, the low of last week and then important level of 1540.
The longer term trend is still up but price has to close above 1580 to confirm it.
Sentiment deteriorated as futures discount to cash widened.
The 21 day moving average is now at 1527.

R1/1520-1524 R2/1532 R3/1540
S1/1510 S2/1500 S3/1494

FBMKLCI Futures - Daily Message 23 May 2011

FKLI bias stays down after 4 consecutive days of closes below 1540 resistance level, and a close below 1536, the low of the past two days, should keep bias intact.
Further support is expected at the area of 1532, the low of last week, and 1530. Thereafter, expect support at 1524 - 1520.
Resistance is still 1540 and a close above it will turn bias up. Resistance may come at 1546, the high of last week and then 1562, high of April.
The longer term trend is still up but price has to close above 1580 to confirm it.
Sentiment stayed weak as futures was priced cheap to cash, as it did the whole of last week.
The 21 day moving average is now at 1528.

FBMKLCI Futures- Daily Message 19 May 2011

FKLI bias stays down after another failure to close above 1540 resistance level.
But price is now right at another support of the area of 1532, the low of the past 2 days, and 1530. Further support is at 1524 - 1520.
Resistance is still April high of 1562. Expect minor resistance  at 1546, the high of Monday.
The longer term trend is up but price has to close above 1580 to confirm it.
Sentiment stayed weak as futures was again price cheap to cash.
The 21 day moving average is now at 1526.

FBMKLCI Futures - Daily Message 18 May 2011

FKLI bias turned down after closing below 1540 support level and a close below 1530 should keep bias intact.
Support is now the area of 1532, the low of last Friday, and 1530. Further support is at the area of 1524 - 1520.
The 1540 level has now turned into a resistance and then 1545.
The longer term trend is up but price has to close above 1580 to confirm it.
Positive sentiment failed to hold as futures was back at discount to cash.
The 21 day moving average is now at 1525.

FBMKLCI Futures - Daily Message 16 May 2011

FKLI bias turns up after closing above 1540 resistance level and a close above 1543 should keep bias intact.
Minor resistance can be expected at psychological 1550 and a stronger one at April high of 1562.
The 1540 level has now turned support. Further support is at 1530 and then the area of 1524, low of Wednesday, and 1520.

The longer term trend is up but price has to close above 1580 to confirm it.

Sentiment was positive for the first time in more than a week as futures was price at premium to cash.

The 21 day moving average is now at 1525.

FBMKLCI Futures - Daily Message 12 May 2011

FKLI bias stays up and a close above 1535 should keep bias intact.
Resistance is now 1540, level that put a lid on price for the past 3 weeks. Thereafter, expect resistance at 1562, April high. Minor resistance may come at 1550.
Support is now 1530 and then the area of 1524, low of yesterday, and 1520.
The longer term trend is up but price has to close above 1580 to confirm it.
Sentiment stayed weak as futures was again priced cheap.
The 21 day moving average is now at 1524.

FBMKLCI Futures - Daily Message 11 May 2011

FKLI bias stays up and a close above 1521 should keep bias intact.
Resistance is now 1530 and thereafter 1540, level which kept price low for the past 3 weeks.
Expect support at Monday's high of 1520 and then 1510. Further support is expected at psychological 1500 level.
The longer term trend is up but price has to close above 1580 to confirm it.
However, sentiment stayed weak as futures was again at discount to cash.
The 21 day moving average is now at 1523.

FBMKLCI Futures - Daily Message 10 May 2011

FKLI bias stays up but it has to close above 1520 resistance level to keep bias intact.
Furhter up, expect resistance at 1530 and two week high of 1540.
Support is still 1510, and thereafter psychological 1500 level.
The longer term trend is up but price has to close above 1580 to confirm it.
Sentiment stayed weak, more than a week now, as futures was price at discount to cash.
The 21 day moving average is now at 1525.

FBMKLCI Futures - Daily Message 9 may 2011

FKLI bias turned up after price managed to close above morning high and a close above 1512 should keep bias intact.

Support is still at 1510, the low of Thursday. Further support should come at 1500 psychological level and thereafter a prior support of 1494. Expect minor support at 1505.

Resistance is still the area of 1518 - 1520, yesterday's high and then 1530.
The longer term trend is up but price has to close above 1580 to confirm it.
Sentiment nonetheless stayed weak as futures was again priced at discount to cash.
The 21 day moving average is now at 1527.

FBMKLCI Futures - Daily Message 6 May 2011

FKLI bias stays down and it has to close below 1510 support level to keep bias intact.
Further below, support should come at 1500 psychological level and thereafter a prior support of 1494. Expect minor support at 1505.
Resistance is still the area of 1518 - 1520, yesterday's high and then 1530.
The longer term trend is up but price has to close above 1580 to confirm it.
Sentiment stayed downcast as futures discount to cash remained wide.
The 21 day moving average is now 1530.

FBMKLCI Futures - Daily Message 5 May 2011

FKLI bias stays down and a close below 1516 should keep bias intact.
Support is still 1510, the low of yesterday and thereafter the psychological 1500. Minor support could come at 1505.
Resistance is now the area of 1518 - 1520, the yesterday afternoon session high and then 1530.
The longer term trend is up but price has to close above 1580 to confirm it.
Sentiment was extremely bearish as futures was priced at steep discount to cash.
The 21 day moving average is now at 1531.

FBMKLCI Futures - Daily Message 4 May 2011

FKLI bias turned down and a close below 1526 should keep bias intact.
Support is still expected at the area of 1520 - 1518, low of last week, and then 1510, the low of April.
Resistance is now at 1530 and then the area of 1540 - 1542, the high of last week.
The longer term trend is up but price has to close above 1580 to confirm it.
Sentiment stayed weak as futures was price at discount to cash.
The 21 day moving average is now at 1533.

FBMKLCI Futures - Daily Message 3 May 2011

FKLI bias is neutral, the close below morning low is weak but nonetheless price managed to close above 1530 support level.
Again, resistance is still at area of 1540 - 1542 and then April high of 1562.
Support is expected at area of 1520 - 1518, the low of last week, and thereafter 1510, the low of 2 weeks back.
The longer term trend is up but price has to close above 1580 to confirm it.
Sentiment was weak as futures was priced cheap to cash.
The 21 day moving average is now at 1534.