FKLI Daily Commentary on 060110

FKLI Dec Futures contract surge another 8 point higher to settle at 1290 levels as compare to previous trading session to with a total of 5,916 lots traded in the market. FKLI traded higher since open for trading in the 1st trading sessions but traded sideways in the 2nd trading sessions despite Hang Seng Indices closed strong upon closing.
FKLI penetrate and holding above previous resistance levels at 1287 during entire trading sessions while met 200% Fibonacci resistance level at 1292. Technically, FKLI view as bullish sentiment as it manage to penetrate previous high at 1286 regions while other condition such as support levels at 1269.5 and 1256 must not be violated in the coming trading sessions must be fulfilled. However, FKLI seen traded on the top side and pull back would anticipate provided resistance levels at 1292 and 1301; both were 200% and 261.8% Fibonacci resistance levels.