Friday, January 6, 2012

FBMKLCI Futures - Daily Message 6 Jan 2012


FKLI bias turned up after the strong but it has to close above 1518 to keep bias intact.
Resistance is at 1530, near the high of the week, and followed by 1541.
Support is yesterday's low of 1510 and thereafter the week's low of 1502.
The longer term trend is neutral to down.
Sentiment was neutral as futures was priced at slight premium to cash.
The 21 day moving average is at 1486.

R1/1518 R2/1530 R3/1541
S1/1510 S2/1502 S3/1493

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