Thursday, June 23, 2011

FBMKLCI Futures - Daily Message 24 June 2011


FKLI bias stays down but price has to close below 1560 to keep bias intact.
Again, expect support at yesterday's low of 1560 and thereafter week's low of 1552.
Resistance is still 1564 and bias should turn up on close above it. The next resistance is at 1570, near week high.
The longer term trend is up but price has to close above 1580 to confrim it.
Sentiment is neutral as futures was priced about fair to cash.
The 21 day moving average is now at 1553.

R1/1564 R2/1570 R3/1580
S1/1560 S2/1552 S3/1545

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