FKLI Commentary on 24/03/09

FKLI March futures contract surge 22.5 point higher to close at 883 as compare to previous trading session with total 9804 lots traded in the market. FKLI surge up during trading session due to news release regarding US government to bailout on bank bad asset.

Technically, FKLI seems manage to rebound 78.6% Fibonacci retracement figure at 885.5 regions and stopped at upper resistance trend line in the hourly chart. We still think FKLI is riding on a bear rally despite manage to rebound up to 886 regions. Traders were advice to hold short position in the coming trading session provided