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.

R1/1530 R2/1541 R3/1558
S1/1523 S2/1515 S3/1510

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