FKLI bias turned dow after closing below morning low and a close below 1549 should keep bias intact.
Support should come at last week's low of 1540 and then July low of 1535. Buying may also come at 1518, late May low.
The psychological 1550 has again turned resistance and then follow by 1555, the high of the week.
The longer term trend is up but price has to close above 1580 to confirm it.
Sentiment stayed weak as futures was at discount to cash.
The 21 day moving average is now at 1568.
R1/1550 R2/1555 R3/1562-65
S1/1540 S2/1535 S3/1518
FKLI bias turned up after closing above 1550 level and a close above 1557 should keep bias intact.
Expect resistance at around the area 1562-65, the high of last week, and then 1570, the high of two weeks ago.
Firm support should come at 1550 psychological level with a minor support at 1555. The support should also come at 1540, the low of last week.
The longer term trend is up but price has to close above 1580 to confirm it.
Sentiment however stayed weak as futures was priced at discount to cash.
The 21 day moving average is now at 1570.
R1/1562-65 R2/1570 R3/1580
S1/1550 S2/1540 S3/1535
FKLI bias stays neutral despite the lower close, but a close above 1550 should see bias turning up.
Higher up, expect resistance as 1555, near last Monday's low, and then 1565, last's week high.
Support is still two days low of 1540, followed by June's low of 1535 and late May low of 1520.
The longer term trend is still up but price has to close above 1580 to confirm it.
Sentiment stayed weak as futures was at discount to cash.
The 21 day moving average is now at 1571.
R1/1550 R2/1555 R3/1562-65
S1/1540 S2/1535 S3/1520
FKLI bias stays down after failing to close above 1550 and price has to close below 1545 support, also last week's low, to keep bias intact.
Below that, expect support at 1540, near yesterday's low, and then 1535, the low of June.
The psychological 1550 has now turned resistance followed by 1555, the low of early week.
The longer term trend is up but price has to close back above 1580 to confirm it.
Sentiment stayed weak despite the 'hammer' in cash, as futures was priced cheap.
The 21 day moving average is now at 1572.
R1/1550 R2/1555 R3/1562-65
S1/1545 S2/1540 S3/1535
FKLI bias turned down and price has to close below 1550 to keep bias intact.
Below the psychological 1550, expect support at last weeks low of 1545 and then Jun low of 1535.
Resistance is still at 1565 and the the low of two week's back 1570.
The longer term trend is up but price has to close above 1580 to confirm it.
Sentiment stayed downcast as futures was priced at discount to cash.
The 21 day moving average is now at 1574.
R1/1562-65 R2/1570 R3/1580
S1/1552-1550 S2/1545 S3/1535
FKLI bias is nuetral failing to close below 1557, but bias should turn back down on close below it.
Below 1557, support may come at around the psychological level 1550 and then last week's low of 1545.
Resistance is still 1565, which put a cap on price yesterday, and then 1570 and 1580. A close above 1565 should turn bias up.
The longer term is still up but price has to close above 1580 to confirm it.
Sentiment turned weak as futures was priced at discount to cash.
The 21 day moving average is now at 1575.
R1/1565 R2/1570 R3/1580
S1/1557 S2/1552-50 S3/1545
FKLI bias turned down after closing below 1565 but price has to close below 1557 support level to keep bias intact.
Expect support around the psychological 1550 level and a stronger one at 1545, last week's low and also a support level in mid June.
The 1565 has now turned resistance and followed by 1570, low of 2 weeks ago, and 1580.
The longer term trend is up but price has to close above 1580 to confirm it.
Sentiment was weak as futures was priced at discount to cash.
The 21 day moving average is now at 1575.
R1/1565 R2/1570 R3/1580
S1/1552-50 S2/1545 S3/1535
