Wednesday, November 9, 2011

FBMKLCI Futures - Daily Message 9 Nov 2011


FKLI bias stays up after a higher close and it need to close higher to keep bias intact.
Resistance is still 1490 followed by the high of 16 Aug of 1505.
Support is now at 1473, the low of yesterday, followed by the gap of last Friday of 1465.
The longer term trend is sideways to down.
Sentiment stayed upbeat as futures was priced at premium to cash.
The 21 day moving average is now at 1450.

R1/1490 R2/1505
S1/1473 S2/1465 S3/1458

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