FKLI Commentary on 24/02/09

FKLI February futures contract rebound another 6 points higher to close 884 as compare to previous trading session with total 8104 lots traded in the market. FKLI was traded higher during the trading session mainly due to Dow Jones futures electronic and regional strong rebound.

Technically, FKLI manage to rebound 50% Fibonacci retracement level at 894 region after manage to breach support levels at 879 region. We expect FKLI would trade lower in the coming trading session provided resistance levels at 903 and 914 were not violated. Traders were advice to hold short position in the coming trading while be cautious around support level at 878 and 873 regions.