FKLI Commentary on 10/02/09

FKLI February futures contract surge 16 points higher to close 893 as compare to previous trading session with total 5788 lots traded in the market. FKLI was traded higher during trading due strong KLSE trading during the trading session.

Technically, FKLI seems complete its wave 3 expansion at 123.6 % Fibonacci projection figures at 897 regions. We expect FKLI would retrace mildly toward support region at around 880 and 872 levels; 80 – day and 100 – day moving average. Traders were advice to hold long position in the coming trading session around the support while do take note on the resistance levels at 897 and 927 regions.