FKLI Commentary on 19/11/08

FKLI November contract retrace 18 points lower as compare to previous trading session at 873 with a total of 5964 lots traded in the market.

FKLI was traded lower during trading session as most of the regional performing poor indication while Dow Jones futures electronic trading drop during the trading session. Technically, FKLI seems temporary bottomed at 873.5; 61.8% Fibonacci figures after manage to breach out from the descending triangle resistance trend line at 891 levels. We expect FKLI would trade high in the coming trading session if support levels at 872 and 860 were up to against the selling pressure. Traders were advice to hold long position if resistances levels at 883.5 and 891 were breach in the coming trading session.