Tuesday, June 21, 2011

FBMKLCI Futures - Daily Message 22 June 2011


FKLI bias stays up but price has to close above 1564 to keep bias intact.
The all time high of 1580 will now turn resistance, with possible minor selling at 1570.
Support is still the area of 1560-64 and then Monday's low of 1552.
The longer term trend is up but price has to close above 1580 to keep bias intact.
Sentiment turned bullish after futures was priced at premium to cash.
The 21 day moving average is now at 1550.

R1/1570 R2/1580
S1/1564-60 S2/1552 S3/1545

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