FKLI Commentary on 14/07/09

FKLI futures July contract fall 5 points lower to close at 1058 as compare to previous trading session with total 5,013 lots traded in the market. FKLI plunge as most of the regional plunge during trading session but manage to recover before trading session ended.

Technically, FKLI seems encounter some support around 1052.5 regions while manage to rebound 50% at 1061 regions. Based on our technical interpretation, our opinion suggest FKLI would continue to trade lower in the coming trading session provided resistance levels at 1063 and 1070 were not violated. Traders were advice to hold short position while be alert around support levels at 1052 and 1030 regions.