FKLI Commentary on 08/04/09

FKLI April futures contract continue to fall 9 points lower to close at 917.5 as compare to previous trading session with total 7752 lots traded in the market. Wild trading day for FKLI trading days but manage to trade lower before market close due Dow Jones electronic trading and 3 by-election that going on process.

Technically, FKLI seems topped around 927 regions after tested it for 3 consecutive attempts. We expect FKLI would retrace in the coming trading session provided resistance levels at 927 and 940 were not violated. Traders were advice to hold short position in the coming trading session while be extra cautious around support levels at 896 and 863 regions.