FKLI Daily Commentary for 9th Feb 2010

FKLI February Futures contract was traded 10.5 points lower as compare to previous trading session to settle at 1233 levels with a total of 6,788 lots traded in the market. FKLI plunge lower during the 2nd trading sessions as FBMKLCI plunge during trading sessions despite of mild selling activities for regional equity indices while Dow Jones electronic trading surge higher during trading sessions.
FKLI manage to break further to test lower support levels at 1233.5 regions, 350%, 61.8% and 78.6% of Fibonacci support levels despite of mild rebound during 1st trading session at 1251 regions. Technically, FKLI seems temporary supported around 1233.5 regions despite yet to have any sign of bullish sign that indicates any rebound possibilities provided resistance levels at 1238 and 1244 regions were violated during trading sessions. Next nearest support for FKLI trading was seen at 1227 and 1215 regions.