Monday, May 9, 2011

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.

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