FKLI Commentary on 15/06/09

FKLI futures June contract surge 7 point higher to close at 1090.5 as compare to previous trading session with total 5,497 lots traded in the market. FKLI was mainly consolidated during the trading session while awaiting fresh market leads for further directions.

Technically, FKLI seems completed the 78.6% Fibonacci projections at 1090.5 regions after manage to cap new high at 1092 regions. Based on our technical analyst, we still suggest FKLI was seen topped around resistance levels at 1094 and 1110 regions. Traders were suggest to hold short position in the coming trading session provided resistance level were not violated during trading session while be alert that support levels seen at 1080.5 and 1073 while confirmation to break down from rising wedge seen at 1063 regions.