FKLI Commentary on 17/12/08

FKLI December futures contract rose 8 point higher as compare previous trading session to close at 865 with total of 3517 lots traded in the market.

Technically, hourly FKLI price chart show FKLI remain holding firm above the previous resistance trend line throughout the entire trading session and manage to surge up from 847 after long hours of consolidation. FKLI closed above the resistance levels at 863; 61.8% Fibonacci projection figures after consolidate for more than 5 hours. We expect FKLI would climb higher in the coming trading session provided support levels at 840 and 847 were well hold. Traders were advice to hold long position in the coming trading session while being cautious around the resistance levels at 870 and 882 region.