Thursday, September 29, 2011

FBMKLCI Futures - Daily Message 29 Sep 2011


FKLI bias stays up but price has to close above 1375 to keep bias intact.
Above 1375, further resistance is expected at psychological 1400 and thereafter 1420.
Support is 2-day low of 1340 and followed by 1320 and the psychological 1300.
The longer term trend is down.
Sentiment nonetheless stayed weak as futures was price cheap.
The 21 day moving average is now at 1423.

R1/1375 R2/1400 R3/1420
S1/1340 S2/1320 S3/1300

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