FKLI Commentary on 23/03/09

FKLI March futures contract close 4.5 point higher to close at 860.5 as compare to previous trading session with total 4067 lots traded in the market. FKLI surge up during trading session possible due to KLSE was holding well despite regional indices and Dow Jones futures electronic trading were traded downwards.

Technically, FKLI seems break up after long consolidation within 850 to 855 price range. We expect FKLI would trade lower in the coming trading session provided resistance levels at 866 and 874 regions were not violated. Traders were advice to continue to hold short position in the coming trading session while extra alert around support levels at 849 and 835 regions.