FKLI Commentary on 15/12/09

FKLI Dec Futures contract traded 9.5 points higher close at 1265.5 levels as compare to previous trading session to with a total of 4,387 lots traded in the market. FKLI was traded higher as regional indices and Dow Jones electronic trading were traded firm during trading sessions.

Technically, FKLI manage to rebound 78.6% from low at 1251 regions after been consolidate for more than 4 trading days. Based on our technical view, FKLI would view as bullish if price manage to trade above previous high level at 1270 regions. Our technical opinion suggests support levels at 1260 and 1251 must not be violated in order for current bull to remain intact. Resistance levels were seen at 1270 and 1281.5 regions.