FKLI bias is neutral after the weak close, though the close above 1545 is supportive.
The 1550 psychological level is now resistance and a close above it will turn bias up. Further up, expect resistance at 1556, and the 1564, the gap of January.
Last week’s low of 1545 is still the support level followed by the gap of 1536-33, also this week low.
The longer term trend is up but price has to close above 1580 to confirm it.
Sentiment stayed weak as futures was price as discount to cash.
The 21 day moving average is now at 1546.
R1/1550 R2/1556 R3/1564
S1/1545 S2/1536-33 S3/1524
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