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.
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