FKLI bias stays up after another strong close but price has to close above 1550 to keep bias intact.
Expect resistance in the area of 1550 – 1552, the high of yesterday, and then 1562, the high of April. Support is now expected at 1545, the low of Friday and then the area of 1536-1532, the gap of Thursday.
Expect resistance in the area of 1550 – 1552, the high of yesterday, and then 1562, the high of April. Support is now expected at 1545, the low of Friday and then the area of 1536-1532, the gap of Thursday.
The longer term trend is up but price has to close above 1580 to confirm it.
Sentiment was however muted, as futures was priced about fair to cash.
The 21 day moving average is now at 1529.
R1/1550-1552 R2/1562 R3/1580
S1/1545 S2/1536-32 S3/1524
