Wednesday, January 4, 2012

FBMKLCI Futures - Daily Message 4 Jan 2012


FKLI bias stays up and a close higher should keep bias intact.
Resistance is still 1530, not too far from the high of Friday and yesterday and followed by 1541.
Support is not the area of 1515-1518, yesterday's morning gap and thereafter 1507.
Sentiment turned up as futures was priced a wide premium to cash.
The longer term trend is neutral to down.
The 21 day moving average is now at 1485.

R1/1530 R2/1541 R3/1558
S1/1515-1518 S2/1507 S3/1493

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