Friday, October 28, 2011

FBMKLCI Futures - Daily Message 28 Oct 2011


FKLI bias stays up and a higher close today should keep bias intact.
Resistance is now at 1480, the broken support level, and followed by 1490.
Support is now 1470, yesterday's afternoon low, and the 1457, the low of the gap created yesterday.
The longer term trend is down.
Sentiment stayed upbeat as futures basis was positive.
The 21 day moving average is now at 1418.

R1/1480 R2/1490 R3/1500
S1/1470 S2/1457 S3/1442

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