FKLI Commentary on 18/11/08

FKLI November contract rise 6.5 points higher compare to previous trading session at 891 with a total of 7392 lot traded in the market.

FKLI was traded higher during the 2nd trading session due to most of the regional recovered from overnight Dow Jones weak closing. Technically, FKLI manage to close at 891 higher than previous high at 890.5 while seems break up from a descending triangle in the 15 minutes price chart. We expect this spurt was intended to complete wave 5 around 940 regions. Traders were advice to hold long position in the coming trading session while being cautious around the support levels at 880 and 860 regions.