Wednesday, December 14, 2011

FBMKLCI Futures - Daily Message 14 Dec 2011


FKLI bias stays neutral after the unchanged close.
A close above yesterday's high of 1470 should turn bias up and the next resistance is at 1480, the high of Monday.
Support stays at 1460 and a close below will turn bias down and next support is at 1540, the low of last week.
The longer term trend is down.
Sentiment was muted as futures was at slight discount to cash.
The 21 day moving average is now at 1459

R1/1470 R2/1480 R3/1490
S1/1460 S2/1450 S3/1440

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