Monday, February 20, 2012

FBMKLCI Futures - Daily Message 20 Feb 2011


FKLI bias turned up after the firm close and another close above 1560 should keep bias intact.
Resistance is last week's high of 1564 and followed by 1570.
Support is last Friday's gap high low of 1553 and thereafter Thursday's low of 1547.
The longer term trend is neutral to down.
Sentiment was slightly upbeat as futures was at a touch premium to cash.
The 21 day moving average is now at 1535.

R1/1564 R2/1570 R3/1580
S1/1560 S2/1553 S3/1547

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