Thursday, September 3, 2009

FKLI Commentary on 04/09/09

FKLI Aug Futures contract surge 9 points higher to close at 1177 levels as compare to previous trading session to with a total of 3,739 lots traded in the market. FKLI continue to rebound strong as regional indices especially Hang Seng indices were traded firm during trading sessions.

Technically, FKLI seem manage to breach upper resistance trend line at 1176 regions despite were open below support trend line at 1165 levels. Based on our technical analyst, our opinion suggests FKLI would turn bullish provided if resistance levels at 1178 and 1182 were violated during trading session. Traders were advice to hold long only with condition that resistance levels were violated; else, short position would be more preferable. Support levels were seen at 1168 and 1161.5 regions.