Tuesday, January 3, 2012

FBMKLCI Futures - Daily Message 3 Jan 2012


FKLI bias stays up after the firm close and a higher close should keep bias intact.
Resistance is just above last Friday's high of 1530 and followed by 1541.
The Dec contract high of 1515 is now support and thereafter 1507.
The longer term trend is neutral to down.
Sentiment turned weak after the wide futures discount to cash.
The 21 day moving average is now at 1484.

R1/1530 R2/1541 R3/1558
S1/1515 S2/1507 S3/1493

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