FKLI Commentary on 08/09/09

FKLI Aug Futures contract surge 10.5 points higher to close at 1192.5 levels as compare to previous trading session to with a total of 3,065 lots traded in the market. FKLI surge strong despite regional equity indices and Dow Jones futures electronic were not much in a bullish sentiment during the trading sessions.

Technically, FKLI seems manage to penetrate our resistance levels at 1192 regions while closing at 1192.5 regions. Based on our technical view, our opinion suggests FKLI would encounter some amount of selling pressure around resistance levels at 1198 and 1208 regions. Traders were advice to take profit around the resistance levels while be assured that support levels at 1184.5 and 1174.5 must not be violated in any circumstances.