FKLI Daily Commentary for 23rd March 2010

FKLI March Futures contract was traded 4 points lower as compare to previous trading session to close at 1294 levels with a total of 5,156 lots traded in the market. FKLI plunge lower after KLCI was closed almost lowest upon end of trading sessions despite FKLI was manage to recover from weak opening as Dow Jones and regional indices were traded lower during trading sessions.
FKLI penetrate previous support levels at 1290 upon open for trading but manage to recover swiftly at 1299 regions, 78.6% Fibonacci resistance levels before plunge lower before end of trading sessions. Technically, FKLI seems possible to further extent correction wave towards south provided resistance levels at 1299 and 1302.5 were not violated in the coming trading sessions. However, FKLI would seems temporary supported around support levels at 1290 and 1284 regions.