Monday, December 12, 2011

FBMKLCI Futures - Daily Message 12 Dec 2011


FKLI bias stays down and it has to close lower to keep bias intact.
Support is now 1450, the low of last Friday and followed by 1440, the low of two weeks ago.
The 1460 support level has not turned resistance and thereafter 1473 the low of last Tuesday.
The longer term trend is down.
Sentiment stayed weak as futures was at discount to cash.
The 21-day moving average is now at 1459.

R1/1460 R2/1473 R3/1490
S1/1450 S2/1440 S3/1420

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