FBMKLCI Futures - Daily Message 11 May 2011

FKLI bias stays up and a close above 1521 should keep bias intact.
Resistance is now 1530 and thereafter 1540, level which kept price low for the past 3 weeks.
Expect support at Monday's high of 1520 and then 1510. Further support is expected at psychological 1500 level.
The longer term trend is up but price has to close above 1580 to confirm it.
However, sentiment stayed weak as futures was again at discount to cash.
The 21 day moving average is now at 1523.

FBMKLCI Futures - Daily Message 10 May 2011

FKLI bias stays up but it has to close above 1520 resistance level to keep bias intact.
Furhter up, expect resistance at 1530 and two week high of 1540.
Support is still 1510, and thereafter psychological 1500 level.
The longer term trend is up but price has to close above 1580 to confirm it.
Sentiment stayed weak, more than a week now, as futures was price at discount to cash.
The 21 day moving average is now at 1525.

FBMKLCI Futures - Daily Message 9 may 2011

FKLI bias turned up after price managed to close above morning high and a close above 1512 should keep bias intact.

Support is still at 1510, the low of Thursday. Further support should come at 1500 psychological level and thereafter a prior support of 1494. Expect minor support at 1505.

Resistance is still the area of 1518 - 1520, yesterday's high and then 1530.
The longer term trend is up but price has to close above 1580 to confirm it.
Sentiment nonetheless stayed weak as futures was again priced at discount to cash.
The 21 day moving average is now at 1527.

FBMKLCI Futures - Daily Message 6 May 2011

FKLI bias stays down and it has to close below 1510 support level to keep bias intact.
Further below, support should come at 1500 psychological level and thereafter a prior support of 1494. Expect minor support at 1505.
Resistance is still the area of 1518 - 1520, yesterday's high and then 1530.
The longer term trend is up but price has to close above 1580 to confirm it.
Sentiment stayed downcast as futures discount to cash remained wide.
The 21 day moving average is now 1530.

FBMKLCI Futures - Daily Message 5 May 2011

FKLI bias stays down and a close below 1516 should keep bias intact.
Support is still 1510, the low of yesterday and thereafter the psychological 1500. Minor support could come at 1505.
Resistance is now the area of 1518 - 1520, the yesterday afternoon session high and then 1530.
The longer term trend is up but price has to close above 1580 to confirm it.
Sentiment was extremely bearish as futures was priced at steep discount to cash.
The 21 day moving average is now at 1531.

FBMKLCI Futures - Daily Message 4 May 2011

FKLI bias turned down and a close below 1526 should keep bias intact.
Support is still expected at the area of 1520 - 1518, low of last week, and then 1510, the low of April.
Resistance is now at 1530 and then the area of 1540 - 1542, the high of last week.
The longer term trend is up but price has to close above 1580 to confirm it.
Sentiment stayed weak as futures was price at discount to cash.
The 21 day moving average is now at 1533.

FBMKLCI Futures - Daily Message 3 May 2011

FKLI bias is neutral, the close below morning low is weak but nonetheless price managed to close above 1530 support level.
Again, resistance is still at area of 1540 - 1542 and then April high of 1562.
Support is expected at area of 1520 - 1518, the low of last week, and thereafter 1510, the low of 2 weeks back.
The longer term trend is up but price has to close above 1580 to confirm it.
Sentiment was weak as futures was priced cheap to cash.
The 21 day moving average is now at 1534.