FKLI Commentary on 04/08/09

FKLI Aug Futures contract surge 8 points to settle at 1172.5 levels as compare to previous trading session to with a total of 6,774 lots traded in the market. FKLI was trade volatile as regional indices and Dow Jones electronic trading was traded high despite was traded low during morning sessions.

Technically, FKLI seems formed a symmetric triangle in the hourly chart while daily chart more prone to consolidation phase within range from 1177 to 1160 regions. Based on our technical analyst, our opinion suggests FKLI still possible riding on bull rally as long as support levels at 1160 and 1153 were not violated. However, traders were advice to enter position once resistance levels at 1177 and 1182 were breached.