Friday, July 15, 2011

FBMKLCI Futures - Daily Message 15 July 2011


FKLI bias is neutral after an inside day trade yesterday, but bias will turn up should price close back above 1580.
Resistance is still at 1586, a covered gap, and 1590. Strong selling is expected at psychological 1600.
Expect support at 1575, Wednesday's low and then 1570, not too far from early week low.
The longer term trend is up but price has to close above 1580 today to confirm it.
Sentiment was neutral as futures was priced about fair.
The 21 day moving average is now at 1574.

R1/1580 R2/1586 R3/1590
S1/1575 S2/1570 S3/1560

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