Wednesday, December 7, 2011

FBM KLCI Futures - Daily Message 7 Dec 2011


FKLI bias turned down after the lower close and it has to close below 1473 today to keep bias intact.
Further support is expected at last week's gap low of 1460 and followed by another gap of 1440.
The 1490 has now turned into resistance and thereafter Monday's high of 1505.
The longer term trend is down.
Sentiment turned weak after futures was priced cheap.
The 21 day moving average is now at 1461.

R1/1490 R2/1505 R3/1530
S1/1473 S2/1460 S3/1440

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