Thursday, November 3, 2011

FBMKLCI Futures - Daily Message 3 Nov 2011


FKLI bias turned up after closing above morning high but it has to close above 1475 today to keep bias intact.
Further up, expect resistance at week high around 1490 and then 1505.
Support is yesterday's afternoon gap of 1462 followed by yesterday's low of 1450.
The longer term trend is down.
Sentiment nonetheless stayed weak as futures was priced cheap to cash.
The 21 day moving average is now at 1438.

R1/1475 R2/1490 R3/1550
S1/1462 S2/1450 S3/1442

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