FKLI bias may have turned up after the long legged candle and strong showing by the US equities.
Resistance is now yesterday's afternoon high of 1330 and followed by last week's low of 1357.
Support is now the psychological 1300, tested yesterday followed by 1270.
The longer term trend is down.
Sentiment stayed weak as futures was again at discount to cash.
The 21 day moving average is now at 1434.
R1/1330 R2/1357 R3/1378
S1/1300 S2/1270 S3/1240
FKLI bias is neutral after the close near day high but a close above 1375 is needed for price to trend higher.
Resistance is now at 1378, gap of Friday, followed by psychological 1400 and 1420.
Support is now April 2010 high of 1350 and thereafter 1330 and psychological 1300.
The longer term trend is down.
Sentiment was somewhat positive as futures was priced at premium to cash.
The 21 day moving average is at 1441.
R1/1378 R2/1400 R3/1420
S1/1350 S2/1330 S3/1300
FKLI bias stays down after closing below 1400 psychological level and has to close below 1375 support to keep bias intact.
Further support is expected at Arp 2010 high of 1350 and followed by 1340.
The psychological 1400 has now turned into a resistance followed by Wednesday high of 1420.
The longer term trend is down.
Sentiment stays weak as futures basis remains wide.
The 21 day moving average is now at 1447.
R1/1400 R2/1420 R3/1447
S1/1375 S2/1350 S/1340
FKLI bias turned up after a strong close but it has to close above 1420 to keep bias intact.
Above 1420, which is not too far from yesterday's high, resistance is expected at Aug intraday low of 1427.
Support is still at psychological 1400 and followed by 1390.
The longer term trend is down.
Sentiment stays weak as the futures basis narrowed.
The 21 day moving average is now at 1453.
R1/1420 R2/1427 R3/1447
S1/1400 S2/1390 S3/1375
FKLI bias is neutral after an undecided close yesterday but will turn down on a close below 1400.
Again, resistance is at psychological 1400 and thereafter 1390.
Resistance is now 1414, the high of yesterday followed by Aug intraday low of 1427.
The longer term trend is down.
Sentiment stays weak as futures was again at discount to cash.
The 21 day moving average is now at 1455.
R1/1414 R2/1427 R3/1447
S1/1400 S2/1390 S3/1375
FKLI stays down after another lower close and it has to close below 1400 to keep bias intact.
Support is now the psychological 1400 and thereafter 1390.
Expect resistance at Aug intraday low of 1427 and thereafter 1447.
The longer term trend is down.
Sentiment stayed downcast as futures was at discount to cash.
The 21 day moving average is now at 1460.
R1/1427 R2/1447 R3/1458
S1/1400 S2/1390 S3/1375
FKLI bias stays down after another lower close and price has to close below 1427 to keep bias intact.
Should 1427 is broken, expect support at psychological 1400 and then 1390.
Resistance is still at 1447, not too far from last week high and then gap high of 1458.
The longer term trend is neutral to down.
Sentiment stayed weak as futures was priced at discount to cash.
The 21 day moving average is now at 1463.
R1/1447 R2/1458 R3/1465
S1/1427 S2/1400 S3/1390
