Wednesday, January 18, 2012

FBMKLCI Futures - Daily Message 18 Jan 2012


FKLI bias turned up after the strong close and it has to close above 1522 to keep bias intact.
Resistance is now 1530, tested multiple times last week and thereafter 1541.
Support is expected at 1515, gap of yesterday's afternoon session and followed by 1510, yesterday's morning gap.
The longer term trend is neutral to down.
Sentiment was upbeat as futures was priced at slight premium to cash.
The 21 day moving average is now at 1507.

R1/1522 R2/1530 R/1541
S1/1515 S2/1510 S3/1502

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