Tuesday, October 25, 2011

FBMKLCI Futures - Daily Message 25 Nov 2011


FKLI bias turns up after the higher close but it has to close higher to keep bias intact.
Resistance is now at yesterday's high of 1465 and followed by last Friday's close of 1470.
Support is at yesterday low of 1450 and followed by yesterday's gap low of 1442.
The longer term trend is down.
Sentiment turned positive as futures as at slight premium over cash.
The 21 day moving average is now at 1405.

R1/1465 R2/1470 R3/1480
S1/1450 S2/1442 S3/1430

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