FKLI Commentary 20/02/09

FKLI February futures contract rebound another 3 points higher to close 895 as compare to previous trading session with total 4696 lots traded in the market. FKLI starts rebound during trading session due to regional and Dow Jones futures electronic trading.

Technically, FKLI traded within uptrend price channel in the hourly chart after seems support above 50% Fibonacci retracement figure at 886.5 levels. We expect FKLI would trade higher in the coming trading session provided support levels at 886.5 and 880 were not violated. Traders were advise to hold long position in the coming trading session while be cautious around resistance levels at 903 and 913 regions.