Monday, October 24, 2011

FBMKLCI Futures - Daily Message 24 Oct 2011


FKLI bias is neutral but a close above 2-day high of 1442 should turn bias up.
Resistance is at psychological 1450 and thereafter last Tuesday high of 1456.
Support is now last Friday's low of 1428 followed by last Thursday's low of 1420.
The longer term trend is down.
Sentiment was weak as futures basis was negative.
The 21 day moving average is now at 1402.

R1/1442 r2/1450 R3/1456
S1/1428 S2/1420 S3/1400

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