FKLI Commentary on 15/10/09

FKLI Oct Futures contract surge fiercely 17 points higher at 1251.5 levels as compare to previous trading session to with a total of 3,818 lots traded in the market. FKLI was traded higher throughout entire trading session despite not much encouragement from regional indices other than Hang Seng indices.

Technically, FKLI daily price chart manage to penetrate upper resistance trend line with previous resistance levels at 1246 regions. Based on our technical view, our opinion suggests FKLI would continue trade higher in the coming trading session provided nearest support levels at 1243.5 and 1233.5 were not violated during trading sessions. Traders were advice to continue to hold long position while place tight stop order around support levels. Resistance levels were seen at 1257 and 1265 regions.