FKLI Commentary on 20/03/09

FKLI March futures contract close 2 point higher to close at 856 as compare to previous trading session with total 5175 lots traded in the market. FKLI was traded without main direction as contradicting world indices with Dow Jones futures electronic trading.

Technically, FKLI seems manage to rebound 61.8% Fibonacci retrace figure at 857.5 regions and complete a diagonal formation as manage to break down from short term support levels at 854 regions. We still FKLI expect still riding on bear trend with resistance seen at 864 and 874 levels. Traders were advice to continue hold short position in the coming trading session while be alert of support levels at 849 and 835 regions.