Tuesday, November 1, 2011

FBMKLCI Futures - Daily Message 1 Nov 2011


FKLI bias stays up and a higher close should keep bias intact.
Resistance is now the area of 1500-1505 and followed by uncovered gap of 1532.
The broken resistance of 1490 turned into support and then followed by 2-day low of 1475.
The longer term trend is neutral to down.
Sentiment stayed neutral as futures was priced about fair.
The 21 day moving average is now at 1427.

R1/1500-05 R2/1532
S1/1490 S2/1475 S3/1458

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