FKLI bias turned up after closing above 1580 resistance level and it has to close above 1584 to keep bias intact.
Expect resistance at prior gap of 1586 and then 1590. Stronger selling should come at psychological 1600.
Below 1580, support may come at 1575, the low of yesterday and then 1570, not too far from early week low.
The longer term trend is up.
Negative sentiment of the past 3 days was shook off, as futures was price rich to cash.
The 21 day moving average is now at 1572.
R1/1586 R2/1590 R3/1600
S1/1580 S2/1575 S3/1570
FKLI bias turned down after closing below 1586 resistance and it has to close below 1580 support to keep bias intact.
Again, support is at the still uncovered gap of 1580 and then another gap of 1570.
The 1586 level has now turned resistance and thereafter 1590 and psychological 1600.
The longer term is up but price has to stay above 1580 to keep view intact.
Sentiment stayed weak as futures was priced at discount to cash. The move yesterday confirmed the weekend weak sentiment.
The 21 day moving average is now at 1569.
R1/1586 R2/1590 R3/1600
S1/1580 S2/1570 S3/1560
FKLI bias turned up and a close above 1593 should keep bias intact.
Again, expect resistance at psychological 1600 and every 10 points after.
The 1586 level, Friday's low and also a prior gap, has now turned support, and then the still uncovered gap of 1580.
The longer term trend is up.
Sentiment however was somewhat weak after futures was priced cheap to cash. If sentiment is to go by, the 1586 is the level to watch.
The 21 day moving average is now at 1568.
R1/1600 R2/1610
S1/1586 S2/1580 S3/1570
FKLI bias turned up but price has to close above 1590 to keep bias intact.
Expect resistance at 1594, level that put a lid on price twice this week, and then the psychological 1600.
The 1586 level has now turned support and then the uncovered gaps of 1580 and 1570.
The longer term trend is up.
Sentiment was somewhat weak, the first time in almost 10 days, as it was priced cheap.
The 21 day moving average is now at 1564.
R1/1594 R2/1600
S1/1586 S2/1580 S3/1570
FKLI bias stays neutral, a lower close is weak but still supportive as it was above morning high. Similarly, it is just above the 3-week long uptrend.
Nonetheless, price has to close above 1586 resistance level to turn bias back up. Further resistance is at 1590 and then the psychological 1600.
Support is still the prior high of 1580, and then another gap of 1570.
The longer term trend is up but price has to stay above 1580 to keep it intact.
Sentiment stayed positive as futures was priced at premium to cash. Again, price has to close above 1586 if the sentiment is to translate into a move.
The 21 day moving average is now at 1562.
R1/1586 R2/1590 R3/1600
S1/1580 S2/1570 S3/1560
FKLI bias is neutral after the unchanged close but nonetheless under pressure as it was below morning low.
Another close below Monday's gap of 1586 will turn bias down.
Again, pyschological 1600 should come as resistance with minor selling expected at 1590, just as it did yesterday.
Support stays at Friday's gap of 1580 and then another gap of 1570.
The longer term trend is up but price has to stay above 1580 to keep trend intact.
Sentiment nevertheless stayed positive as futures was priced rich to cash.
The 21 day moving average is now at 1561.
R1/1586 R2/1590 R3/1600
S1/1580 S2/1570 S3/1565
FKLI bias stays up and price has to close above 1585 to keep bias intact.
Resistance is still expected at 1600 psychological level. Minor selling may come at 1590.
Expect support at prior high of 1580, also gap of Friday, and then the mid week gap of 1570.
The longer term trend is up.
Sentiment stayed upbeat as futures was priced at premium to cash, more than a week now.
The 21 day moving average is now at 1560.
R1/1590 R2/1600 R3/1610
S1/1580 S2/1570 S3/1565
