Tuesday, November 8, 2011

FBMKLCI Futures - Daily Message 8 Nov 2011


FKLI bias turned up after the strong close but it has to close higher to keep bias intact.
Resistance is recent high of 1490 followed by 16 Aug high of 1505.
The broken resistance of 1480 has not turned support and followed by the low of Friday at 1465.
The longer term trend is neutral to down.
Sentiment was upbeat as futures was priced at premium to cash.
The 21 day moving average is now at 1446.

R1/1490 R2/1505
S1/1480 S2/1465 S3/1458

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