Monday, March 5, 2012

FBMKLCI Futures - Daily Message 5 Mar 2012


FKLI bias stays up and a higher close should keep bias intact.
Resistance is now 1590, just above last week's high and followed by the psychological 1600.
Support is now Friday's afternoon low of 1582.5 and then 1576, the gap of Friday's morning.
The longer term trend is neutral to down.
Sentiment stayed positive as futures was at premium to cash.
The 21 day moving average is now at 1557.

R1/1590 R1/1600
S1/1582.5 S2/1576 S3/1570

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