FKLI Daily Commentary for 13th Aug 2010

FKLI Aug Futures contract traded 1.5 points lower to close at 1346.0 levels as compare to previous trading session to with a total of 7,734 lots traded in the market. FKLI opened lower for trading but manage to recover from losses soon as most of the regional indices were recovered during the 2nd trading sessions despite Dow Jones Futures electronic was still trading below green during trading sessions.
FKLI price was well holding above support levels at 1347.5; 278,6% Fibonacci support levels, before manage to rebound towards resistance levels at 1349 regions; 38.2% Fibonacci resistance level. Technically, FKLI price seems trading on minor wave 3 trading south provided resistance levels at 1356 and 1367 were not violated in the coming trading sessions. However, it’s essential for FKLI price to trade below support levels at 1342 and 1339 in order to further affirm on south trading direction.