Monday, November 21, 2011

FBMKLCI Futures - Daily Message 21 Nov 2011


FKLI bias stays down but it has to close below 1440 to keep bias intact.
After 1440, support is expected at another prior low of 1420 and then psychological 1400.
Resistance is at gap of Friday at 1457 and then 1473.
The longer term trend is down.
Sentiment stayed weak as futures was priced cheap.
The 21 day moving average is now at 1463.

R1/1457 R2/1473 R3/1480
S1/1440 S2/1420 S3/1400

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