FKLI Daily Commentary for 21st Apr 2010

FKLI Apr Futures contract plunge 14.5 points higher to close at 1336.5 levels as compare to previous trading session to with a total of 4,633 lots traded in the market. FKLI traded higher as Dow Jones and regional indices were traded higher during trading sessions despite Dow Jones futures electronic trading was traded lower in the previous trading sessions.
FKLI traded higher since open for trading after previous resistance levels at 1326 and 1329.5; 50% and 61.8% Fibonacci resistance levels. Technically, FKLI surge up higher and stopped at 38.1%, 61.8% and 250% Fibonacci resistance levels after retrace 50% Fibonacci support levels at 1322 regions. However, it’s crucial that FKLI traded price above resistance levels at 1341 and 1347 in order for recent uptrend to resume affirm while support levels at 1322 and 1319 must no be violated in the coming trading sessions.