FKLI Commentary on 22/12/09

FKLI Dec Futures contract traded marginally 1 point lower to close at 1259 levels as compare to previous trading session to with a total of 2,374 lots traded in the market. FKLI was traded lower despite regional indices were traded mix while Dow Jones futures electronic was traded without firm direction.

FKLI break lower after long consolidate within range from 1264 to 1260 regions but sell activity seems on hold above 78.6% Fibonacci support levels at 1275.5 regions. Technically, FKLI is very close to the decisive moment where critical supports were seen at 1257.5 and 1251.5 levels. Support levels are seen crucial in order to bull trend to remain intact. On the other hand, resistance levels were seen at 1270 and 1281.5 levels that were expect to have great selling pressure.