Thursday, June 30, 2011
FBMKLCI Futures - Daily Message 1 July 2011
FKLI bias stays up after closing at all time high but price has to close above 1580 to keep bias intact.
Thereafter, expect resistance at 1600 psychological level. Minor resistance may come at 1590.
Support is still Wednesday gap of 1570 and thenday lows of 1565 and 1560.
The longer term trend is up but price has to close above 1580 to confirm it.
Sentiment stayed positive as futures was at premium to cash.
The 21 day moving average is now at 1558.
R1/1580 R2/1590 R3/1600
S1/1570 S2/1565 S3/1560
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