FKLI Commentary on 23/12/09

FKLI Dec Futures contract traded marginally 1.5 point lower to close at 1257.5 levels as compare to previous trading session to with a total of 2,256 lots traded in the market. FKLI was traded lower tracking closely on ShangHai Indices despite regional indices were traded strong together with Dow Jones electronic trading.

FKLI fail to break above previous high at 1263 levels; hence attempt to test support levels at 1256 regions. Technically, momentum indicator RSI in FKLI hourly price chart shows some strength to trade upwards where support levels at 1256 and 1251.5 must be able to against the selling pressure in the coming trading sessions as RSI in daily price chart has yet to show any buying momentum of FKLI. Resistance levels to FKLI trading were seen at 1263 and 1271 regions.