FKLI Commentary on 07/09/09

FKLI Aug Futures contract rose 5 points higher to close at 1182 levels as compare to previous trading session to with a total of 3,769 lots traded in the market. FKLI manage to trade higher during trading session as regional indices especially Hang Seng indices surge strongly in the 2nd trading sessions.

Technically, FKLI manage to penetrate previous high point at 1181.5 with closing at 1182 levels; above 78.6% Fibonacci rebound levels at 1181 regions. Based on our technical view, our opinions suggests FKLI would likely to trade higher in the coming trading session provided support levels at 1180 and 1173 were not violated. Traders were advice to hold long position with condition support levels must not be violated while be cautious around resistance levels at 1189.5 and 1192.