Wednesday, June 29, 2011
FBMKLCI Futures - Daily Message 30 June 2011
FKLI bias stays up and price has to close above 1576 to keep bias intact.
Resistance is still the all time high 1580 and thereafter psychological 1600.
Expect support at 1570, the low of yesterday's gap, and the 1565, low of Tuesday.
The longer term trend is up but price has to close above 1580 to confirm it.
Sentiment stayed upbeat as again futures was priced rich to cash.
The 21 day moving average is now at 1557.
R1/1580 R2/1590 R3/1600
S1/1570 S2/1565 S3/1560
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