FKLI Commentary on 13/02/09

FKLI February futures contract plunge 12 points lower to close 880.5 as compare to previous trading session with total 6701 lots traded in the market. FKLI was traded lower throughout the entire trading session due to weak Dow Jones futures electronic trading.

Technically, FKLI seem to correct further lower to test support levels at 880 regions. A falling wedge was seen in the FKLI hourly chart where support seen at 880 region. We expect FKLI would break up from the falling in the coming trading session. Traders were advice to hold long position in the coming trading session while being cautious around resistance levels at 888 and 896.