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.
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