FKLI Commentary on 12/04/09

FKLI May futures contract plunge 17 point lower to close at 1015 as compare to previous trading session with total 8,274 lots traded in the market. FKLI was traded lower due to Dow Jones electronic and regional indices sudden drop despite were trading positive during morning session.

Technically, FKLI hourly chart shows price manage to break down from the rising despite much choppy trading above the trend line. We expect FKLI would trade lower in the coming trading session while support levels seen at 998.5 and 950 regions. Traders were advice to hold short position in the coming trading session with resistance seen at 1022 and 1037 regions.