FKLI Commentary on 22/06/09

FKLI futures June contract rebound 9.5 points higher to close at 1064 as compare to previous trading session with total 6,282 lots traded in the market. FKLI rebound tracking closely regional indices and Dow Jones electronic trading rebound fierce during the trading session.

Technically, FKLI seems stopped around 50% Fibonacci rebound levels at 1063.5 regions. Based on our technically analyst, we suggest FKLI still seen riding on the bear rally where resistance levels at 1070.5 and 1079 must not be violated. Traders were advice to hold short position in the coming trading session while be alert around support levels 1059 and 1050 region.