FKLI 1st June Market Commentary

FKLI Apr Futures contract plunge 15.5 points lower to close at 1272.5 levels as compare to previous trading session to with a total of 9,502 lots traded in the market. FKLI opened near to unchanged territory before plunge lower as Dow Jones futures electronic trading and regional indices were traded lower during trading sessions.
FKLI manage to complete rebound near to 1281.5 at 61.8% Fibonacci resistance levels before starts to plunge lower towards support levels at 1269; 50% Fibonacci support levels in the hourly price chart. Technically, FKLI seems possible to complete wave 4 at 50% Fibonacci while next nearest support levels were seen at 1265.5 and 1260; both are 61.8% and 78.6% Fibonacci support levels. FKLI would expected to trade higher in the coming trading sessions provided support levels were not violated while resistance levels were seen at 1294 and 1306 region; both are 50% and 61.8% Fibonacci resistance levels.