Monday, July 11, 2011
FBMKLCI Futures - Daily Message 11 June 2011
FKLI bias turned up and a close above 1593 should keep bias intact.
Again, expect resistance at psychological 1600 and every 10 points after.
The 1586 level, Friday's low and also a prior gap, has now turned support, and then the still uncovered gap of 1580.
The longer term trend is up.
Sentiment however was somewhat weak after futures was priced cheap to cash. If sentiment is to go by, the 1586 is the level to watch.
The 21 day moving average is now at 1568.
R1/1600 R2/1610
S1/1586 S2/1580 S3/1570
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