Friday, February 3, 2012

FBMKLCI Futures - Daily Message 3 Feb 2012


FKLI bias stays up but it has to close higher to keep bias intact.
Strong resistance remains at 1530, tested yesterday and followed by last week's intraday high of 1536.
Support is at 1522, a prior support level and thereafter 1515.
The longer term trend is neutral to down.
Sentiment was extremely bearish as futures was at wide discount to cash, probably the widest in a while.
The 21 day moving average is now at 1520.

R1/1530 R2/1536 R3/1541
S1/1522 S2/1515 S3/1510

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