Thursday, April 5, 2012

FBMKLCI Futures - Daily Message 5 Apr 2012


FKLI bias turned down after the weak close and a lower close should keep bias intact.
Support is now the prior resistance of 1588 and followed by last Friday's low of 1583.
Resistance is last week's high of 1595 and thereafter Tuesday's low of 1602.
The longer term trend is neutral to down.
Sentiment stayed weak as futures discount to cash remains.
The 21 day moving average is now at 1584.

R1/1595 R2/1602 R3/1507
S1/1588 S2/1583 S3/1578

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