FBMKLCI Futures - Daily Message 28 Feb 2011

FKLI bias is still down and a close below 1492 should keep bias intact.
Support is still 1480, the low of the past 3 weeks and then Nov low of 1470.
Resistance is now the area of 1497 - 1500, between the high of Friday and of course the psychological level.
The longer term trend is sideways to up.
Sentiment was somewhat upbeat as futures was priced at premium to cash. But should bias stay down, it may well turn discount again.
The 21 day moving average is now at 1514.

FBMKLCI Futures - 25 Feb 2011

FKLI bias turned down again and another close below 1500 should keep bias intact.
Support is now yesterday's low of 1480 and thereafter 1470, the low of Nov. Further support is at Sep low 0f 1440.
The psychological 1500 is now a resistance and then possibly 1510. Strong resistance is at 1524.
Another close below 1500 should turn the longer term trend to sideways to down.
Sentiment was weak as futures was priced at discount.
The 21 day moving average is now at 1516.

FBMKLCI Futures - Daily Message 24 Feb 2011

FKLI bias seem to turn up with the near high of the day close, with bullish engulfing candle construction. A close above 1515 should keep bias up.
Resistance is still 1524, near the high of last week and then 1533 and 1540, the high of two weeks back.
Support is still the psychological 1500 level, where price bounced off yesterday.
The longer term trend is still up.
Sentiment was upbeat, a change from the past week, as futures was priced at premium to cash.
The 21 day moving average is now at 1520.

FBMKLCI Futures - Daily Message 23 Feb 2011

FKLI bias seem to turn and close below 1506 should keep bias intact.
However, look for bias to turn up should it closes back above 1515.
Resistance should come at Monday's low of around 1505 with stronger support at psychological 1500 level. Important low remains at Dec low of 1485.
Resistance is still 1524, near high of Monday and thereafter 1533.
The longer term trend is still up.
Sentiment deteriorated as again, futures was at steep discount to cash.
The 21 day moving average is now at 1527.

FBMKLCI Futures - Daily Message 22 Feb 2011

FKLI bias stays up and a close above 1524 resistance level should keep bias intact.

Further up, seller may come out at 1533 and then the high of two weeks ago 1540.

Support is now yesterday's low of 1505 and thereafter psychological 1500 level. Important low remains at Dec low of 1485.

The longer term trend is up.

Sentiment was somewhat weak as futures was priced at discount to cash.

The 21 day moving average is now at 1526.

FBMKLCI Futures - Daily Message 21 Feb 2011

FKLI bias stays up after printing the highest close for the week, above 1510 and 1515 resistance levels, Wednesdays's and Monday's high repectively.
The 1524, the support of early Feb, is now the next resistance, followed by 1533 and 1540.
The 1510 and 1515 resistance levels have not turned support but stronger support is still 1500 psychological level and thereafter, the Dec low of 1548.
The longer term trend is still up.
Sentiment is neutral as futures is priced about fair.
The 21 day moving average is now at 1528.

FBMKLCI Futures - Daily Message 17 Feb 2011

Despite the lower close, bias could have turned up after another positive candle yesterday (a hammer with long tail), which followed the positive long white candle on Monday. But price has to close above 1515 resistance, also Monday's high, to confirm the upward bias.
Further resistance is expected at 1524, the support level of last week and the 1533, another important support and resistance level.
Support is still 1485, where price bounced off yesterday, also the important Dec low. Further down, expect support at Nov low of 1470.
The longer term trend is still up.
Sentiment was neutral and futures was priced about fair.
the 21 day moving average is now at 1534