FKLI Commentary on 20/11/08

FKLI November contract retrace 5 points lower as compare to previous trading session at 868 with a total of 6181 lots traded in the market.

FKLI plunge down after seems well support above 872 levels as Dow Jones futures electronic trading plunge during trading session. Technically, FKLI another false break above 880.5 but temporary supported above 869; 78.6% Fibonacci figures. FKLI seems still trading within descending triangle range while critical supports remains at 858 and 863 regions. Resistances were seen at 880.5 and 890.5 levels. Traders were advice to ONLY hold long position provided support levels were not violated.