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Tuesday, May 3, 2011
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.
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