FKLI Commentary on 05/12/08

FKLI November futures contract traded 4 points higher compare to previous trading session to close at 843 with total of 3897 lots traded in the market. FKLI was mainly traded sideways during entire trading session as traded volume shows lack of market participant to trade FKLI as market lack of leads to move toward a certain direction.

Technically, FKLI was seems temporary supported above 836 and 830 region; 61.8% Fibonacci retracement figure from 2 different range. However, Guppy Multiple Moving Average shows great resistance at 845 to 850 regions. Traders were advice to ONLY hold long position in the coming trading session provided if resistances level around 845 was breach while support levels were not violated.