FKLI Commentary on 13/01/10

FKLI Jan Futures contract closed 3.5 point lower to settle at 1294 levels as compare to previous trading session to with a total of 2,733 lots traded in the market. FKLI was traded volatile search for high and low during trading session as regional indices and Dow Jones futures electronic trading were traded wild due to mix market sentiment.

FKLI traded lower after manage to rebound 78.6% Fibonacci resistance levels at 1298 regions during trading sessions. Technically, FKLI seems traded sideways within range from 1300 to 1290 regions after 5 consecutive trading days for last 1 week trading sessions. However, FKLI must trade above resistance levels at 1303 and 1312.5; both were 261.8% and 161.8% Fibonacci resistance levels, in order for FKLI to retain Bullish sentiment back into market. Support levels at 1290 and 1278; both were 23.6% and 50% Fibonacci support levels, were seen critical in order for FKLI bull trend to remain intact.