FKLI Commentary on 31/12/09

FKLI Dec Futures contract traded 8 point lower to close at 1270 levels as compare to previous trading session to with a total of 4,190 lots traded in the market. FKLI closed lowest of the day after 2 times traded lower during trading sessions which mostly directly influence by regional indices and Dow Jones electronic trading.

FKLI attempted to challenge nearest support at 1270 regions after fail to hold above resistance levels at 1278.5 regions during trading sessions. Technically, FKLI seems traded in critical price zone as support levels at 1269.5 and 1256 was seen vital support in order FKLI to remain intact with bull rally based on the observation on the hourly price chart. However, previous high level at 1279.5 shall be count as rebound wave provided support levels were violated and FKLI would highly possible to trade in bear trend in the medium term. Resistance levels were seen at 1274 and 1278.5 regions.