FKLI Commentary on 06/01/09

FKLI December futures contract rose 31 points higher as compare previous trading session to close at 928 with total of 7562 lots traded in the market. FKLI was higher due to Dow Jones overnight strong closing while enhance by strong regional performance.

Technically, FKLI continue to surge higher than our expectation at 910 – 914 regions soon after to retrace mildly at 907; 23.6% Fibonacci retracement levels. We expect FKLI would trade higher in the coming trading session while strong resistances were expected around 946 and 957 regions. Traders were advice to take profit around resistances level while only take long position around support levels at 900 and 890 region.