FKLI Daily Commentary for 1st Apr 2010

FKLI March Futures contract was traded 1.5 point lower as compare to previous trading session to close at 1316.5 levels with a total of 2,237 lots traded in the market. FKLI was mainly traded sideways during entire trading sessions despite regional indices were traded lower while Dow Jones electronic trading were merely unchanged.
FKLI consolidate within range from 1316.5 and 1320 regions; coincidently 0% and 78.6% Fibonacci support and resistance levels in the hourly price chart. Technically, FKLI has yet shown any bullish sign in the hourly continuous chart but April contract were trade higher during trading sessions as failed in attempt to penetrate nearest support levels at 1310.5 and 1300 regions. However, FKLI would affirm bullish sentiment once resistance levels at 1328.5 and 1337 fails to resistance price to trade higher in the coming trading sessions.