Friday, December 2, 2011

FBMKLCI Futures - Daily Message 2 Dec 2011


FKLI bias stays up after the strong move and a higher close should keep bias intact.
Resistance is now yesterday's high of 1513 followed by the gap of 5 Aug of 1526.
The broken resistance of 1490 has now turned support and thereafter yesterday's gap low 1460.
The longer term trend is neutral.
Sentiment stayed upbeat as futures was at premium to cash.
The 21 day moving average is now at 1457

R1/1513 R2/1526 R3/1532
S1/1490 S2/1480 S3/1460

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