Tuesday, November 4, 2008

FKLI Daily: bear rebound


Market tested the intra-day high at 907.5 but not closing and ended with straight 4 days of positive close. However, market is still stayed below the mid-term downtrend zone and this could be a bear rebound. As for now, we look for the upside resistance at 918-920 followed by 931-944 (gap left over since 15 Oct, 2008). For downside, support is at 871.5 followed by 862.5.