FKLI Commentary on 17/09/09

FKLI Sep Futures contract traded 7 points higher to close at 1218 levels as compare to previous trading session to with a total of 4,381 lots traded in the market. FKLI consolidate upwards rally in the morning trading session as regions indices were traded firm during trading session especially Hang Seng index that manage to surge 400 points upon closing.

Technically, FKLI seems slow down after reach 278.6% Fibonacci projection around 1220 regions together with 38.1% Fibonacci projection at 1217 regions. Based on our technical view, our opinion suggests FKLI would only surge high provided buying interest would overcome resistance levels at 1221 and 1235. Traders were advice to hold long position in the coming trading session provided support levels at 1197 and 1181.5 were not violated trading session.