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Wednesday, January 25, 2012
FBMKCI Futures - Daily Message 25 Jan 2012
FKLI bias stays up and a higher close should keep bias intact. Resistance remains at 1530, tested several times in the past 2 weeks and followed by 1541. Support is 1523, a prior low, and thereafter 1515, the low of last Friday. The longer term trend is neutral to down. Sentiment stayed upbeat as futures was priced at slight premium to cash. The 21 day moving average is now at 1515.
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