FKLI Commentary on 28/12/09

FKLI Dec Futures contract traded 0.5 point higher to close at 1264 levels as compare to previous trading session to with a total of 4,101 lots traded in the market. FKLI was traded sideways in the 2nd trading session as most of the regional indices were closed for trading due to Christmas Eve which directly affects FKLI trading directions.

FKLI manage to rebound to test resistance levels at 1265.5; 78.6% Fibonacci resistance levels after opening for trading at 1260 regions. Technically, FKLI still unsure of the trading direction as price was trade within range from 1256 to 1267 regions; both were 78.6% Fibonacci support and resistance level in the hourly chart. FKLI temporary sideways trading unless traded price manage to trade beyond support levels at 1260 and 1251.5 while resistance levels were seen at 1270 and 1281.5 regions.