Monday, June 27, 2011
FBMKLCI Futures - Daily Message 28 June 2011
FKLI bias is neutral, the lower close is weak but nonetheless price managed to close above 1564 support level.
Expect support at 1552, the low of last week, and thereafter the important level of 1545.
Resistance may come at 1570, the high of last week, and then the all time high of 1580.
The longer term trend is up but price has to close above 1580 to confirm it.
Sentiment stayed positive as futures was priced rich to cash.
The 21 day moving average is now at 1555.
R1/1570 R2/1580 R3/1600
S1/1560 S2/1552 S3/1545
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