Monday, March 19, 2012

FBMKLCI Futures - Daily Message 19 Mar 2012


FKLI bias turned down and it has to close below 1574 to keep bias intact.
Further supports are expected at prior resistance of 1570 and then the low of last week at 1562.
Resistance is now at the broken support of 1578 and thereafter the 2-day high of 1585.
The longer term trend is neutral to down.
Sentiment nonetheless stays upbeat as futures was at premium to cash.
The 21 day moving average is now at 1571.

R1/1578 R2/1585 R3/1590
S1/1574 S2/1570 S3/1562

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