FKLI Commentary on 06/05/09

FKLI April futures contract fall 6.5 point lower to close at 1006 as compare to previous trading session with total 8,454 lots traded in the market. FKLI was traded lower despite Dow Jones was closed firm for the past 2 trading session as most of the regional indices were traded lower during the trading session.

Technically, FKLI seems manage encounter great selling pressure around resistance levels at 1025 and 1035 regions. We expect FKLI possible to test the resistance levels before starts to retrace after bull rally for almost 7 consecutive weeks. Traders were advice to liquidate long position while be prepare to hold short position if resistance levels were not penetrated. Support levels were seen at 1000 and 984 regions.