Thursday, January 5, 2012

FBMKLCI Futures - Daily Message 5 Jan 2011


FKLI bias turned down after the weak close but a close back above 1518 resistance level should turn bias back up.
Support is at yesterday's low of 1502 and followed by last week's low of 1493.
Further up, resistance is still the 1530, just below yesterday's high and followed by 1541.
The longer term trend is neutral to down.
Sentiment turned weak after futures was priced at discount to cash.
The 21 day moving average is at 1486.

R1/1518 R2/1530 R3/1541
S1/1502 S2/1493 S3/1480

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