Wednesday, February 22, 2012

FBMKLCI Futures - Daily Message 22 Feb 2011


FKLI bias stays up and a higher close should keep bias intact.
Resistance remains at 1570 and thereafter 1580, both a prior high and low.
Yesterday's resistance of 1564 has now turned support and followed by Monday's low of 1556.
The longer term trend is neutral to down.
Sentiment stayed upbeat as futures was priced rich to cash.
The 21 day moving average is now at 1540.

R1/1570 R2/1580 R3/1590
S1/1564 S2/1556 S3/1553

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