FKLI Commentary on 19/02/09

FKLI February futures contract rebound mildly 5.5 points higher to close 892 as compare to previous trading session with total 5658 lots traded in the market. FKLI rebound despite Dow Jones plunge during overnight trading.

Technically, FKLI manage to build a base within 885 and 890 range before starts to surge up and hold above hourly 80 – day and 100 – day moving average. We expect FKLI would trade higher in the coming trading session provided support levels at 886.5 and 870 were not violated. Traders were advice to hold long position while be cautious around resistance levels at 903 and 910.