FKLI Commentary on 08/10/09

FKLI Oct Futures contract surge 6 points higher at 1223.5 levels as compare to previous trading session to with a total of 3,517 lots traded in the market. FKLI was traded mainly sideways despite regional indices especially Hang Seng indices and Dow Jones electronic trading were traded strong during trading sessions.

Technically, FKLI successfully manage to penetrate previous resistance levels at 1219.5 regions but consolidate within 1224 and 1219 regions during trading hours. Based on our technical view, our opinion tells us that FKLI still not being able to penetrate resistance levels at 1225 and 1232 regions in order to confirm bull rally reinstate into the market. However, traders were advice to hold short position cautious if resistance levels were being penetrated while be alert around support levels at 1219 and 1213 regions.