FKLI Commentary on 29/12/09

FKLI Dec Futures contract traded 10 point higher to close at 1274 levels as compare to previous trading session to with a total of 6,920 lots traded in the market. FKLI was traded higher during trading sessions as regional indices; Nikkei index and Hang Seng Index were traded firm while Dow Jones was settle higher before close for holiday.

FKLI manage to penetrate previous resistance levels at 1270 regions and traded holding about 1270 regions during trading sessions. Technically, FKLI closed at 100% and 123.6% Fibonacci projection levels at 1274 regions where 61.8% Fibonacci resistance levels seen at 1273. FKLI would still consider riding on uptrend provided support levels at 1269.5 and 1256 must not be violated during trading session. FKLI would expect great selling activities around 1278.5 and 1285 resistance levels.