FKLI Commentary on 19/03/09

FKLI March futures contract surge 12.5 point higher to close at 854 as compare to previous trading session with total 8166 lots traded in the market. FKLI was traded high during the trading session mainly due to strong KLSE indices performance closed at 847.96, up 6.09 points.

Technically, FKLI seems challenge the resistance levels at 853; 50% Fibonacci retrace figure. We expect FKLI would trade lower in the coming trading session provided resistance levels at 853 and 874 were not violated. Traders were advice to hold short position as downtrend was seen as our primary trend. Support levels remain at 850 and 835 regions.