Wednesday, December 21, 2011

FBMKLCI Futures - Daily Message 21 Dec 2011


FKLI bias is neutral as it closed right at support yesterday.
Therefore, a close below 1470 today will turn bias down and next support is at 1460, the low of Monday.
Resistance is still at 1480, the high of yesterday, and followed by 1490, the high of two weeks ago.
The longer term trend is down.
Sentiment is upbeat as futures was priced at premium to cash.
The 21-day moving average is now at 1459.

R1/1480 R2/1490 R3/1505
S1/1470 S2/1460 S3/1450

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