FKLI Commentary on 06/10/09

FKLI Oct Futures contract surge 12 points higher to settle at 1216 levels as compare to previous trading session to with a total of 2,860 lots traded in the market. FKLI was traded higher before sessions were closed as Dow Jones futures electronic trading surge higher despite it was more a range trading day for regional indices.

Technically, FKLI manage to break previous upper resistance trend lines at 1206.5 and 1203 regions. Based on chart pattern in technical analyst, our opinion suggests FKLI were seems likely to reverse towards uptrend after manage to break previous high resistance levels at 1213.5 regions. Traders were advice to hold long position in the coming trading sessions provided support levels at 1207.5 and 1203 were violated during trading sessions. Resistance levels were seen at 1222 and 1233 regions.