Wednesday, June 1, 2011

FBMKLCI Futures - Daily Message 2 June 2011


FKLI bias is neutral now, the close above morning low is supportive but selling was evident too.
Resistance remain the area of 1562-64, the gap of January, and the all time high of 1580. Minor selling may come at 1570.
Morning low of 1557 is now the minor support, with stronger one at the area of 1552-50. Next support is at 1543, the low of Tuesday.
The longer term trend is up but price has to close above 1580 to confirm it.
Sentiment was neutral too as futures was priced about fair.
The 21 day moving average is now at 1533.

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