MALAYSIA DERIVATIVES EXCHANGE >>> FBM KLCI Futures Overviews

EDow Strong Undertone

December Dow finished up 16 at 10963, 7 off the high and 33 up from the low. Technical Outlook : EDOW (DEC) 10/12/2010

Rising stochastics at overbought levels warrant some caution for bulls. The close above the 9-day moving average is a positive short-term indicator for trend. The market has a slightly positive tilt with the close over the swing pivot.

The next upside objective is 11000. The market is becoming somewhat overbought now that the RSI is over 70. The next area of resistance is around 10980 and 11000, while 1st support hits today at 10942 and below there at 10924.

Spot-on For 1500 Target
ZL's FKLI open positions >>> Spot 1490.0 & 1491.0 = 1490.5 average

Intraday target 1495.0 Positional 1500

FKLI Rekomen

1486.0 was previous day opening gap price >>>

remain unviolated with technical chart above showing 1487.0 Support.

Therefore 1486/7 will be a good entry or exit point when numbers taken out

BUY ON DIP