FKLI Commentary on 05/05/09

FKLI April futures contract rose 18.5 point higher to close at 1012.5 as compare to previous trading session with total 11,081 lots traded in the market. FKLI was traded during the trading session as regional indices such as Singapore and Hang Seng Index surge up during trading session.

Technically, FKLI seems met its projection figure at 250% Fibonacci figure at 1018.5 regions. We expect FKLI would retrace in the coming trading session with immediate supports seen at 1000 and 981 regions. Traders were advice to hold short position in the coming trading session while be cautious around resistance levels at 1018.5 and 1025 regions.