FKLI Commentary on 27/02/09

FKLI February futures contract rebound 3.5 points higher to close at 897 as compare to previous trading session with total 5470 lots traded in the market. FKLI was traded higher due to Dow Jones futures electronic trading despite KLSE and other regional indices were traded weak.

Technically, FLKI seems temporary resisted around 898.5 regions; 61.8% Fibonacci figures. We expect FKLI will trade lower in the coming trading session as FKLI was seen break down from hourly chart trend line. Traders were advice to hold short position in the coming trading session around resistance levels at 898 and 905 regions. Supports were seen at 888 and 875.5 regions.