Tuesday, May 24, 2011

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

No comments:

Post a Comment