FKLI Daily Commentary for 2nd Feb 2010

FKLI January Futures contract was traded 8 points lower as compare to previous trading session to settle at 1259 levels with a total of 4,178 lots traded in the market. FKLI was traded higher after searched new low at 1250 regions as Dow Jones futures electronic trading was traded higher after regional indices plunge lower on closing in the 2nd trading sessions.
FKLI plunge lower after manage to penetrate previous support levels at 1260 regions; 200% Fibonacci support levels in the hourly price chart. Technically, FKLI seems reached support levels at 1250 regions, 250% and 61.8% Fibonacci support levels at 1249.5 regions, while hourly MACD appear to have Bull Divergence with further support levels seen at 1248 and 1227 regions. However, FKLI possible undergo some rebound activities where resistance levels seen at 1272 and 1285 regions. Critical resistance levels were seen at 1295 regions.